Russia's Sberbank to launch cryptocurrency trading infrastructure by December 2026

Russia is establishing its first comprehensive legal framework for digital assets, set to take effect on September 1, 2026. In response, Sberbank, Russia's largest bank, plans to launch cryptocurrency trading infrastructure and a digital depository by December 1, 2026. While domestic crypto payments remain banned, the law permits digital currencies for cross-border trade settlements, helping Russia navigate international sanctions. The Bank of Russia will oversee the market, enforcing strict licensing and retail purchase limits.

Russia digital asset legislation

• ▪Sberbank's planned digital depository will record clients' cryptocurrency ownership and process most transactions outside the underlying blockchain.
• ▪Sberbank plans to build cryptocurrency trading infrastructure and launch a digital depository by December 1, 2026.
• ▪The main part of Russia's new digital currency legislation is scheduled to take effect on September 1, 2026.
• ▪Russia's State Duma passed the On Digital Currency and Digital Rights bill to establish a comprehensive legal framework for digital asset markets.

Exchange licensing requirements

• ▪The new Russian legislation establishes a licensing regime for digital asset exchanges, brokers, custodians, and digital asset depositories.
• ▪Russian firms have a two-year grace period until July 1, 2027, to operate without being listed in the official registry while applying for a license.

Central bank oversight

• ▪Public exchange trading in Russia will be limited to cryptocurrencies meeting Bank of Russia liquidity thresholds, including a 5 trillion ruble market capitalization.
• ▪The Bank of Russia will supervise digital asset entities, maintain registries of approved market participants, and oversee compliance.

Retail investor purchase limits

• ▪Non-qualified retail investors in Russia face annual digital asset purchase limits of approximately 300,000 rubles through licensed intermediaries.
• ▪Qualified investors in Russia are permitted to purchase digital assets without the 300,000 ruble annual restriction.

Cross-border payment exceptions

• ▪The Russian legislation maintains a ban on using digital currencies and digital rights as a means of payment within Russia.
• ▪Exceptions to the payment ban allow digital currencies for settlements under foreign trade contracts between Russian residents and non-residents.

Sanctions evasion via cryptocurrency

• ▪The United Kingdom Foreign Office announced in May 2026 that it would ramp up measures against digital asset networks used to bypass British sanctions.
• ▪Russia has increasingly turned to digital assets to seek relief and evade unprecedented international sanctions imposed since February 2022