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The Russian Federation Savings Bank launches a new platform to lead the wave of cryptocurrencies

2026-07-26 12:53:53

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Russia's Federal Reserve Bank leads the development of a new cryptocurrency platform Russia's Federal Reserve Bank, a leading banking institution, plans to launch a cryptocurrency trading platform and digital custody system before December 1, 2026. As the country embraces digital currencies under the new legislative framework, the bank's move is expected to redefine the way cryptocurrency participation in Russia . How will the new legislation reshape Russia 's cryptocurrency landscape? The recently passed Digital Currency and Digital Rights Act will bring about major changes. Once approved by the Federal Council and President Vladimir Putin, the bill will establish a comprehensive regulatory environment for Russian cryptocurrencies. Citizens will face new standards for purchasing digital currencies, and intermediaries will need to obtain appropriate licenses. However, the use of digital assets in daily domestic transactions is still prohibited. Currently, Russia's regulatory framework is relatively decentralized, covering taxation and anti- money laundering and mining and other fields. This complexity requires companies to follow multiple rules, and many companies have turned to cryptocurrencies as an international transaction solution to sanctions. How can the Federal Reserve Bank advance its cryptocurrency infrastructure? In developing the platform, the Federal Reserve Bank's goal is to build a comprehensive cryptocurrency management system. The infrastructure promises to record and manage customers 'cryptographic assets through digital custody systems and supports non-blockchain transactions. By the end of 2026, the system is expected to revolutionize the way customer orders and digital exchanges operate. One of the key elements of the new infrastructure will be a digital custody system that will record customers 'cryptocurrency rights and account for transactions outside of the main blockchain. It will also facilitate transactions on active wallets to execute customers 'money transfer instructions. The Federal Reserve Bank plans to complete the infrastructure required for cryptocurrency transactions and launch a digital custody system by December 1, 2026. There is still a lot of basic work to be done in terms of regulation, especially the transition to licensed services and intermediaries. Federal Reserve Bank is committed to contributing its expertise and insights to drive this regulatory milestone. A large number of details needed to build the infrastructure and technology foundation-from custody and accounting systems to licensing of new intermediaries-still need to be developed and adopted. The Federal Reserve Bank is ready to continue to share its expertise and actively participate in this effort. Federal Reserve Bank in Russia The digital financial market holds a strong position to handle digital financial assets related to Bitcoin and Ethereum. The bank had conducted a loan pilot using crypto assets and evaluated the relevant risks and necessary processes. Once the new law takes effect, exchanges and brokers will need to obtain appropriate licenses. Russian Banks will supervise and monitor these entities to ensure compliance. Retail investors will face annual purchase limits, while eligible participants will enjoy unlimited trading, highlighting differences in regulatory considerations. If approved by the Federal Council and signed by President Putin, key legal provisions will take effect on September 1, 2026, marking the entry of a new era in the field of digital assets in Russia .

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