Russia Approves Securities Group to Oversee Crypto Exchanges
By Micah Zimmerman
AI summary of the source article
The Central Bank of Russia approved securities association NAUFOR as a self-regulatory organization for digital depositories and crypto exchanges. Under Russia's new framework, 23 registered exchanges and eight digital depositories have 90 days to join an SRO.
Why it matters
The law "opens a state-supervised channel for cross-border trade, a route that helps Russia move around Western sanctions."
Key facts
- The Central Bank of Russia granted NAUFOR SRO status for crypto exchanges and digital depositories on October 29.
- Firms on central bank registries, including 23 crypto exchanges and eight depositories, have 90 days to join an SRO.
- Domestic crypto payments remain banned, while non-qualified retail investors face an annual purchase limit of 300,000 rubles per intermediary.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Russia Approves Securities Group to Oversee Crypto Exchanges The Bank of Russia approved NAUFOR as the country’s first self-regulatory organization for crypto exchanges and digital depositories. This post Russia Approves Securities Group to Oversee Crypto Exchanges first appeared on Bitcoin Magazine and is written by Micah Zimmerman .