Bank of Russia Sets Entry Rules for Crypto Exchanges and Depositories

Bank of Russia sets rules for crypto exchanges and depositories.

The Bank of Russia has established entry rules for digital depositories, crypto exchanges, and information system operators. The documents, effective after registration by the Ministry of Justice, will come into force on October 5.

These entities will officially operate only after being included in the relevant registries.

The new regulation sets qualification requirements for management members and certain officials of these companies, lists the documents needed for entry, and outlines the approval procedure.

To be included in the registry, legal entities must submit information about their rights to exchange digital currencies, operate a digital depository and operator, and settle transactions.

Required information includes full and abbreviated names, OGRN, INN, address from the EGRUL, website, phone number, email, and information in Russian about shareholders owning more than 10% of shares.

For individuals: full name, date and place of birth, citizenship, identity document details, SNILS, INN or its equivalent for non-residents, registration and actual residence addresses, and the size of their stake in the company’s charter capital.