- The Bank of Russia published its first lists of authorized crypto exchange operators and custodians.
- Sberbank joined the custodian register and said it plans to launch crypto products on Dec. 1.
- The new framework keeps Russia’s ban on using crypto for goods and services payments.
Russia crypto law moved into a new stage after the country registered its first cryptocurrency exchange operators and digital custodians under rules that took effect on Sept. 1. The Bank of Russia published the first official registers on Tuesday, showing which companies were cleared to operate under the new framework. The lists included major financial names such as Sberbank and VTB Bank, alongside several other firms. The development follows a law signed in August by President Vladimir Putin that created a regulated structure for exchanges, custodians, brokers and investors while placing the market under the central bank’s oversight.
Russia crypto law brings first official registrations
The Bank of Russia released its first registers of authorized crypto operators after the new regulations took effect on Sept. 1. According to the published lists, four exchange operators and five custodians received registration under the framework.
The custodian register included Sberbank, Atomyze, Voltari and Cloud Infrastructure. The crypto exchange operator list included T-Invest Lab, Zefir and Sistema-Crypto. VTB Bank appeared on both lists, making it one of the firms present across the two categories.
Sberbank plans products under Russia crypto law
Sberbank, Russia’s largest bank, said on Monday that it had applied for digital custodian status. It was then added to the custodian list in the first published register from the Bank of Russia.
The bank also said it plans to launch its first crypto products on Dec. 1. At the start, Sberbank said it intends to support Bitcoin, Ether and USDt through its existing SberBank Online, SberInvestments and SberBusiness platforms.
What the new framework covers
The registrations come after President Vladimir Putin signed a crypto law in August. That law created a regulated framework covering exchanges, custodians, brokers and investors.
Under the same structure, oversight of the market falls to the Bank of Russia. At the same time, the law keeps in place Russia’s ban on using crypto to pay for goods and services, even as authorized operators and custodians begin to appear on the official registers.
Conclusion
The first published registers show how Russia crypto law is being put into practice through authorized exchange operators and custodians. The Bank of Russia has now listed the first approved firms, including Sberbank on the custodian side and VTB Bank on both registers. Sberbank has also set Dec. 1 as the planned date for its first crypto products, with support initially aimed at Bitcoin, Ether and USDt across its existing platforms. While the new law creates a regulated framework for multiple parts of the market and places them under central bank oversight, it still preserves the country’s ban on using crypto for payments for goods and services.
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