Bank of Russia clears 17 crypto exchangers as Sberbank and VTB ready retail trading
By Kyle Pare
AI summary of the source article
The Bank of Russia has expanded its register of crypto exchange providers to 17 firms as Sberbank and VTB prepare retail crypto trading. The move implements a law bringing digital currency trading into Russia's regulated financial system.
Why it matters
The registrations put into practice a law "On Digital Currencies and Digital Rights", which took effect on 1 September and "brings crypto trading inside Russia's regulated financial system for the first time."
Key facts
- The Bank of Russia expanded its crypto exchange register to 17 companies and its digital depository register to eight.
- Sberbank and VTB hold both exchange and depository licenses, allowing them to trade crypto in their own names and record client holdings.
- Non-qualified retail investors face a limit of 300,000 roubles per year in liquid cryptocurrencies through any one intermediary after passing a test.
Source excerpt · DL News
Russia's central bank has cleared 17 crypto exchangers, including Sberbank and VTB, as both banks ready retail crypto trading by 1 December.