The Bank of Russia has published several draft regulations governing organized negotiations of cryptocurrencies and digital rights. Licensed platforms will set their own trading rules and calculate their market prices, while new digital custodians will be tasked with recording their clients’ digital assets. The minimum capital required for these custodians will range from 50 to 250 million rubles, or approximately $640,000 to $3.2 million. The law adopted by the Duma regulates the purchase, sale and storage of cryptocurrencies, with an annual cap of 300,000 rubles per intermediary for non-qualified investors. The use of cryptocurrencies as a means of payment will remain prohibited in Russia, but they will still be permitted for foreign trade transactions.
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