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Russia allows crypto exchanges to apply for regulated registers starting Oct. 5
The Bank of Russia’s new admission rules take effect Oct. 5, with the regulator given up to 30 working days to decide after receiving the last required document.
Russia will allow crypto exchange operators and digital depositories to apply for entry into official registers starting October 5, under new admission rules issued by the Bank of Russia, according to CryptoSlate.
The change creates a path into the regulated crypto market envisioned by a law that took effect in September, but applicants will still need separate regulator decisions for the status they are seeking.
The Bank of Russia says the rules also cover operators of information systems used to issue digital financial rights, with specific qualifications for managers and certain officers, a required document list, and a decision process for register entries.
CryptoSlate reports that the electronic application form will be available on October 5, and that under the standard route the regulator has 30 working days to decide after receiving the last required document.