Russia’s Central Bank has begun licensing cryptocurrency exchanges and digital custodians under a new register that took effect on October 5. VTB, Sberbank, Zefir, Sistema Crypto and T-Invest Lab are among the first approved entities. This framework separates ownership and investment activity in cryptocurrency from its use as a domestic payment method, which remains prohibited. Major Russian banks are now entering the regulated digital asset infrastructure directly, giving the market a distinctly different shape from jurisdictions where crypto developed through independent exchanges.
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