Russia’s crypto rules turn one month old as banks line up for licenses

A month into Russia’s new crypto framework, the first big banks have already knocked on the Central Bank’s door. T-Bank’s Atomayz wants to become a digital depository, T-Invest Lab is seeking exchange status, and Sber has applied to handle bitcoin, Ethereum and USDT inside its existing apps.

The Central Bank published the entry rules on 23 September; they took effect on 5 October. Applications can now be processed in a single day. Full operation still requires 27 additional regulations, with seven marked as urgent.

Mandatory SRO membership and a 300,000-ruble annual cap for retail investors on just three coins are described as initial settings. Regulators expect unlicensed platforms to fade by 2027 once the legal market is running.

Based on information from cryptonews.net