Russia's largest bank, Sberbank, plans crypto trading infrastructure and a digital depository by Dec. 1, as new rules take effect Sept. 1.
Crypto Regulation News
Sberbank is the largest bank in Russia by assets. It plans to build cryptocurrency trading infrastructure, including a digital depository, by Dec. 1. The bank wants to move crypto trading, custody, and settlement into Russia's regulated system.
Depository To Track Crypto Ownership
The depository will record who owns each client's cryptocurrency. It will handle most transactions off the main blockchain, according to Interfax. Sberbank will also run active wallets. Those wallets will process client deposits, withdrawals, and transfers.
Alexander Vedyakhin is first deputy chairman of Sberbank's management board. He said the depository will keep records of clients' crypto rights and carry out wallet transfers when clients request them.
The plan follows a new law. Russia's Federation Council approved rules for crypto trading through licensed firms, which include brokers, exchanges, asset managers, and depositories. The framework takes effect Sept. 1, 2026. One rule, set to start in July 2027, will require trades to pass through licensed intermediaries.
Public trading will be limited to larger cryptocurrencies. A coin must meet Bank of Russia liquidity limits, meaning it needs an average market cap above 5 trillion rubles (about $64 billion), and average daily volume above 1 trillion rubles (about $12.8 billion) over two years. Qualified investors will get access to more assets. Crypto payments for goods and services inside Russia remain banned.
Sberbank has moved into crypto step by step. Last year, it offered qualified investors bonds tied to Bitcoin (BTC). It also completed a Bitcoin-backed lending pilot with miner Intelion Data in December 2025. A 2024 law legalized mining in Russia and created a test regime for cross-border crypto settlements. In 2025, the Bank of Russia let qualified investors buy crypto-linked products. It later proposed limited retail buying, which would cap purchases at 300,000 rubles (about $3,800) per year per intermediary.
Related Article: Russia Passes Crypto Law With $3,800 Retail Cap
Western Restrictions Tighten on Russia
Russia is building this system while the West adds pressure. The European Council acted on July 23. It listed the exchange HTX under its restrictive measures. HTX was formerly Huobi Global. The list names 18 entities the EU says undercut those measures. The same day, the EU barred people from Belarus from owning or running crypto exchanges. The UK imposed similar restrictions on HTX in May.
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