Russia’s biggest lender, Sberbank, is preparing to roll out crypto trading infrastructure alongside a digital asset depository by December 1, marking another step in the country’s effort to integrate digital currencies into its regulated financial sector.
The depository will maintain records confirming customers’ crypto ownership while processing most transactions away from public blockchain networks. The bank will also manage active crypto wallets, allowing clients to make deposits, transfers, and withdrawals when requested.
The initiative follows the approval of legislation establishing a legal framework for crypto trading through exchanges, licensed brokers, custodians, and asset managers. The law will come into force on September 1, while the requirement that transactions be handled through authorized intermediaries will not become mandatory until July 2027.
Under the new rules, cryptos available for public exchange trading must satisfy liquidity standards established by the Russian central bank. Eligible assets must maintain an average market capitalization exceeding $64 billion, along with average daily trading volumes of roughly $12.8 billion, over a two-year period.
Qualified investors will have access to a wider selection of digital assets, although using crypto to pay for goods or services within Russia will continue to be prohibited.
Sberbank has steadily expanded its involvement in the crypto sector. Last year, it introduced structured bonds linked to Bitcoin for qualified investors and, in December, completed a pilot program for Bitcoin-backed lending in partnership with mining company Intelion Data.
Russia has been expanding regulation of the crypto industry over the past two years. Legislation passed in 2024 legalized crypto mining and established an experimental framework for using crypto in cross-border settlements.
In 2025, the Bank of Russia also broadened access by allowing qualified investors to purchase financial products linked to cryptos.
The domestic reforms are unfolding as Western governments continue tightening restrictions on Russia over its invasion of Ukraine. The EU recently added crypto exchange HTX to its latest sanctions package. The EU Council said the exchange had been included among entities operating outside the bloc that allegedly undermine existing restrictions by providing crypto asset and payment services linked to Russia.
The move coincided with new EU measures preventing Belarusian residents and citizens from owning or managing cryptocurrency exchanges and crypto asset service providers under the Markets in Crypto-Assets framework.
Earlier this year, the United Kingdom also sanctioned HTX, stating there were reasonable grounds to believe the platform had supported Russia through financial services involving sanctioned entities.
As crypto regulations evolve in different markets, entities like Cantor Equity Partners Inc. (NASDAQ: CEP) will be taking notes and possibly mapping out which jurisdictions could be attractive markets to consider during their expansion phases.
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