According to Cointelegraph, Russia has registered its first cryptocurrency exchanges and custodial service providers under a newly implemented regulation. The registration process included Sberbank, the country’s largest bank, which intends to begin offering cryptocurrency-related products on December 1.
The move marks the initial phase of compliance with Russia’s updated legal framework governing digital asset services. Authorities designated specific entities as licensed exchanges and custodians following the registration procedure. No further details were provided regarding eligibility criteria, operational limits, or enforcement measures in the announcement.
Sberbank’s planned launch of crypto products aligns with the post-registration phase outlined by regulators. The timing indicates preparation for market activity commencement shortly after the law’s effective provisions take shape. Other exchanges and custodians that completed registration were not named in the report.
