Sberbank plans to launch a regulated cryptocurrency depository by December 1, 2026, as Russia prepares to introduce a new legal framework for digital asset services. The platform will support cryptocurrency trading, settlement, and custody for licensed participants under the upcoming regulatory framework.
The digital depository will record customer cryptocurrency holdings while handling many transactions within Sberbank’s own system instead of relying on public blockchain networks. Bank-controlled wallets will process cryptocurrency funding, transfers, and redemptions, while customer holdings remain recorded through internal account records.
Alexander Vedyakhin, Sberbank’s first deputy chairman, confirmed the bank is working toward a year-end deadline. “Sber plans to implement the necessary infrastructure and launch the digital depository by Dec. 1, 2026.”
Russia Sets New Crypto Regulations
Russia’s updated cryptocurrency framework will take effect on September 1, 2026. The new rules establish legal requirements for cryptocurrency trading, custody, settlement, and related financial services. Full licensing requirements for intermediaries will become mandatory in July 2027, giving financial firms time to complete their preparations.
Legislation approved by the Federation Council creates a regulated market covering brokers, exchanges, asset managers, and digital depositories. Financial institutions will be allowed to operate under existing licenses after meeting additional cryptocurrency requirements, while new exchanges and depositories will need separate approval.
The Bank of Russia will restrict public cryptocurrency trading to assets that meet its liquidity and market value criteria. Eligible cryptocurrencies must maintain a minimum average market capitalization of more than 5 trillion rubles, or about $64 billion, over a two-year period. They must also record a minimum average daily trading volume exceeding 1 trillion rubles, roughly $12.8 billion, during the same period.
Crypto Investor Rules and Purchase Limits
The Bank of Russia will permit both qualified and non-qualified market participants to purchase cryptocurrency through regulated intermediaries, although separate conditions will apply to each category. All participants must complete a knowledge test before gaining access under the new framework.
Non-qualified investors will be allowed to purchase up to 300,000 rubles’ worth of eligible cryptocurrency each year through a single intermediary. Qualified investors must also pass a knowledge test, but will gain access to a broader range of digital assets without an annual purchase cap.
Domestic cryptocurrency payments for goods and services will remain prohibited. Russian authorities will continue to treat cryptocurrency as an investment and settlement asset instead of a domestic payment method. Companies may still use cryptocurrency for approved cross-border settlements, while residents could face reporting requirements for certain foreign crypto holdings and transactions.
