New CBRF 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 rules for interaction between crypto exchanges and decentralized finance protocols and sets restrictions for investors.

Interaction with DeFi

Russian crypto exchanges are officially permitted to conduct operations through decentralized protocols. Cryptocurrency storage on external wallets without mandatory transfer of assets to Russian digital depositories is also allowed.

Transfers Between Own Wallets

Testing is not required when transferring cryptocurrency from a personal wallet to an account in a Russian digital depository. This simplifies the procedure for moving funds within the ecosystem.

Restrictions for Non-Qualified Investors

New rules will enter into force on September 1, 2027. Non-qualified investors will be able to transfer cryptocurrency from their external wallets to Russian digital depositories only if the asset is admitted to public trading on Russian exchanges.

Status of Stablecoins and Exchange for Securities

Crypto assets with a specific issuer may be classified as foreign digital instruments rather than digital currency under Russian law. Exchanging cryptocurrency for securities is permitted; however, receiving crypto in exchange for shares is included in the established limits on acquisition.