Russia Registers First Crypto Exchanges and Custodians Under New Law

Russia has registered its first crypto exchanges and custodians under a new law, marking a significant step in the country's evolving crypto landscape. Among the registered entities is Sberbank, Russia's largest bank, which plans to launch crypto products on December 1, 2026.

Sberbank's Crypto Product Launch

Sberbank's entry into the crypto market is a notable development. The bank has been preparing for this move for some time, as previously reported in our article on Sberbank's plans to introduce crypto wallets. This registration allows Sberbank and other financial institutions to offer crypto-related services legally, providing a more structured and regulated environment for crypto transactions in Russia. Sberbank has already reported $46 billion in crypto trading and plans to offer loans backed by Ethereum (ETH) and Tether (USDT) once regulators approve, as covered in our earlier report.

The Impact of Russia's New Crypto Law

The new law, which came into effect earlier this year, aims to regulate digital currencies and rights in Russia. This legislation provides a legal framework for crypto exchanges and custodians, ensuring compliance with anti-money laundering (AML) and know your customer (KYC) regulations. The law also sets guidelines for the operation of crypto platforms, including licensing requirements and operational standards.

What to Watch Next

With the registration of these first crypto exchanges and custodians, the Russian crypto market is expected to see significant growth. Investors and crypto enthusiasts should watch for the launch of Sberbank's crypto products on December 1, 2026. Additionally, the market will be closely monitoring how other registered entities, such as custodians, will shape the crypto landscape in Russia.