Russia’s largest bank, Sberbank, plans to launch a regulated cryptocurrency trading platform and digital asset depository by 1 December 2026. The initiative comes as Russia finalises its first comprehensive cryptocurrency regulation, which is scheduled to take effect on 1 September 2026.
The legislation will introduce oversight for crypto exchanges, brokers, asset managers, custodians and exchange service providers under the supervision of the Central Bank of Russia.
Russia’s largest bank intends to build a full cryptocurrency trading ecosystem that will support regulated trading, custody, settlement and digital asset storage for eligible customers.
According to reports by Interfax, as cited by Crypto News, Sberbank’s planned digital depository will record customer cryptocurrency ownership and facilitate a significant portion of transactions off-chain. The bank will also operate controlled wallets to process deposits, withdrawals and transfers between customers and external blockchain addresses.
Alexander Vedyakhin, First Deputy Chairman of Sberbank, said the lender aims to complete the required infrastructure before the December deadline. The bank has not yet disclosed which cryptocurrencies will be supported, nor has it released details on fees, withdrawal limits or customer eligibility requirements.
Under the proposed model, customers would hold recorded rights to digital assets within Sberbank’s infrastructure, while the bank would manage custody and settlement through regulated wallet systems.
The launch aligns with Russia’s new cryptocurrency regulatory framework, which will formally govern the country’s digital asset sector from September 2026.
The legislation creates five regulated categories of market participants:
The Central Bank of Russia will oversee the sector, including licensing, customer protection, custody standards and accounting requirements. Companies operating under the new regime will have until 1 July 2027 to obtain licences and meet compliance requirements.
The new framework introduces separate rules for qualified and non-qualified investors. Non-qualified investors will be required to pass a knowledge assessment before purchasing approved cryptocurrencies through licensed intermediaries. Annual purchases will be capped at 300,000 rubles per investor through a single intermediary.
Eligible cryptocurrencies will need to satisfy liquidity and market capitalisation requirements established by regulators. Qualified investors will also be required to complete testing but will gain access to a broader range of digital assets without the same annual investment limits.
Banks, brokers and asset managers will be able to provide crypto-related services through existing licences, provided they meet additional cryptocurrency compliance requirements.
Despite opening the door to regulated cryptocurrency investment and trading, Russia will continue to prohibit the use of cryptocurrencies for domestic payments.
However, businesses may use digital assets for approved cross-border transactions under existing policies designed to facilitate international trade. The framework is also expected to introduce reporting obligations for certain foreign cryptocurrency holdings and transactions.
Sberbank has steadily expanded its presence in Russia’s regulated digital asset sector since becoming a registered information system operator in 2022.
The bank has previously issued digital financial assets and investment products linked to Bitcoin, Ethereum and diversified cryptocurrency baskets.
It has also explored cryptocurrency-backed lending. In late 2025, Sberbank completed a pilot transaction with Bitcoin mining company Intelion Data, using mined cryptocurrency as collateral for a loan.
Other Russian banks, VTB and T-Bank, are reportedly developing digital asset depository services, while Moscow Exchange is evaluating cryptocurrency-related operations under the new framework.
Alfa-Bank has also tested crypto custody and digital asset products as the country’s financial sector prepares for the regulatory transition.
The emergence of regulated trading platforms, custody providers and digital repositories is expected to reshape Russia’s cryptocurrency market ahead of the July 2027 licensing deadline.
In May, Russia broadened its crypto mining tax reporting rules, requiring miners and mining infrastructure operators to submit additional technical information such as Internet Protocol (IP) addresses to tax authorities as part of tighter oversight of the country’s cryptocurrency mining sector. Meanwhile, the Russian Ministry of Justice also proposed a bill that would treat cryptocurrencies as ordinary property, like cars, houses, or money.
Russia also introduced a bill in April to criminalise the operation of unregistered cryptocurrency services. The proposed law would penalise people and organisations who engage in cryptocurrency-related operations without the consent of the nation’s central bank.
