Russian Securities Group Gets Crypto Oversight Role

The central bank of Russia granted self-regulatory status to NAUFOR, the National Association of Securities Market Participants, for crypto exchanges and digital depositories. The decision was made on October 29, according to Interfax.

This decision puts the legal framework into practice. The law, titled “On Digital Currency and Digital Rights,” was approved by the State Duma in July. Exchange operators and depositories must now be listed in central bank registries and become members of an SRO.

According to Interfax, the registry currently includes 23 crypto exchanges and eight digital depositories, among them VTB, Sberbank, and subsidiaries of T-Technologies, the parent of T-Bank. Companies listed have a 90-day window to enroll in an SRO. An SRO, in essence, sets industry standards, oversees its members, and speaks for the industry before regulators.

NAUFOR said it intends to contribute to standards for digital asset markets and to press the central bank for regulatory adjustments. It gained equivalent status for information system operators earlier in October. Founded in 1996, the association has 725 members, spanning brokers, dealers, and fund managers from conventional finance.

JUST IN: Russia's central bank approved NAUFOR as a self-regulatory body for crypto exchanges and custodians.

Russia's new crypto law requires all registered crypto firms to join a self-regulatory organization within the next 90 days. pic.twitter.com/pchpFYg6KP

— Bitcoin Magazine (@BitcoinMagazine) October 29, 2026

Russia’s crypto legal gateway

NAUFOR's framework was originally designed for stocks and bonds in traditional finance. Putting the same organization in charge of bitcoin exchanges and custody gives the state a recognizable control mechanism.

In July, Bitcoin Magazine noted that the law prevents bitcoin from being used as money for ordinary transactions. Crypto payments inside the country remain prohibited. The legislation authorizes exchanges and depositories, restricts retail buying, and creates a government-monitored pathway for international commerce, which helps Moscow bypass Western sanctions.

These specifics affect users. Depositories would maintain records of assets, and under one interpretation, they could limit transfers to personal wallets. Retail investors without qualified status may buy up to 300,000 rubles annually via a single intermediary, equivalent to roughly $3,800.

Qualified investors have higher limits. Such rules determine who can access the platforms and under what conditions.

Earlier in the fall, reports said the Moscow Exchange started trialing crypto trading with professional market players, with plans to go live in December.

The exchange aimed to rely on its current infrastructure and a partner digital depository after Russia's new cryptocurrency regulations took effect in September.

Sberbank has also been cleared to hold bitcoin and other digital currencies, and President Vladimir Putin had earlier noted that bitcoin is difficult to ban.