TITLE: Russia's Central Bank Publishes Regulatory Proposals on Digital Currencies and Financial Market Requirements
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The Central Bank of the Russian Federation (CBR) published multiple draft regulatory acts for public consultation, establishing frameworks for digital currency operations, depository services, and financial market standards. The proposals address emerging fintech infrastructure and capital adequacy requirements for Russian financial institutions.
The CBR released draft regulations establishing qualification requirements for personnel managing digital currency exchanges, digital depositaries, and information system operators issuing digital financial assets, aligned with the Federal Law on Digital Currencies and Digital Rights. The proposal outlines decision-making procedures for entities seeking authorisation to conduct these activities, required documentation, and personnel competency standards.
Additional draft instructions address credit history formation procedures, updating the CBR's May 11, 2021 Position No. 758-P; digital depository activity requirements and account management procedures; minimum capital requirements for digital depositaries and information system operators; and amendments to existing regulatory positions. The CBR also proposed standards for voluntary insurance conditions, including information disclosure requirements and delivery mechanisms for insurance contracts.
A separate draft addresses insurance premiums for mandatory civil liability coverage for dangerous facility operators. The CBR published guidance on maintaining registries for digital currency exchange organisations, digital depositaries, and digital financial asset issuance system operators. Additional proposals cover capital adequacy methodologies, mandatory capital ratios, and foreign exchange risk exposure limits for banking groups.
The CBR is accepting public comments on these proposals through August 4, 2026, with individual submission deadlines varying by proposal (ranging from July 30 to August 11, 2026). Stakeholders can submit feedback to designated CBR email addresses provided for each draft regulation. All proposals are available on the CBR website alongside explanatory notes and comment submission templates.