New CB RF Rules for Crypto Exchanges and DeFi

The Central Bank of the Russian Federation has published new clarifications regarding the regulation of the cryptocurrency market. The document defines the rules for interaction between domestic crypto exchanges and decentralized financial protocols and external wallets.

Decentralized Finance

Russian crypto exchanges have been granted the right to trade through decentralized protocols. It is also allowed to store cryptocurrencies in external wallets without mandatory placement of assets in Russian digital depositories.

Transfers Between Own Assets

To transfer cryptocurrency from a personal external wallet to an account in a Russian digital depository, additional testing is not required. This simplifies the procedure for moving funds for users.

Restrictions for Non-Qualified Investors

New restrictions will come into force on September 1, 2027. Non-qualified investors will be able to transfer from their external wallets to accounts in Russian digital depositories only those cryptocurrencies that are permitted for public trading on Russian exchanges.

Status of Stablecoins and Exchange for Securities

Cryptocurrencies with a specific issuer may receive the status of foreign digital instruments rather than digital currencies under Russian law. Exchanging cryptocurrency for securities is allowed; however, receiving cryptocurrency in exchange for shares counts towards the established limits on its acquisition.