Russia's Central Bank Outlines First Framework for 'Organized' Crypto Trading With $640K-$3.2M Capital Requirements

The Bank of Russia published draft regulations this week establishing the country's first framework for organized trading of digital assets and digital rights. Under the proposals, crypto exchanges must maintain between 50 million rubles ($640,860) and 250 million rubles ($3.2 million) in equity capital depending on their operational model. The bank also proposed creating digital depositories to maintain records of cryptocurrencies and digital rights, which would operate under similar principles as traditional securities depositories. The framework follows Russia's crypto market bill passed by the State Duma last week, which legalized regulated retail crypto trading while keeping the ban on using cryptocurrencies for domestic payments. The legislation is expected to take effect in September if enacted.
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