Russia establishes self-regulatory framework for crypto exchanges under new digital currency law, effective September 1 with SRO membership mandatory by July 2027.
Regulation & Gov ·
Russia has begun implementing a self-regulatory framework for cryptocurrency exchanges under the new "On Digital Currencies and Digital Rights" law, with the initial phase launching September 1. The law establishes self-regulatory organizations (SROs) that will set professional standards and coordinate market practices across the sector. According to reporting on the matter, existing crypto exchange operators will enter a transitional period during which SRO membership remains voluntary.
The transition extends to July 1, 2027, at which point participation in an SRO becomes mandatory for current market participants. This grace period allows exchanges time to align with new regulatory structures before the requirement takes effect. The SROs themselves will assume authority over setting and enforcing professional standards across Russia's cryptocurrency exchange landscape.
The phased rollout leaves several details unspecified: the exact criteria for SRO formation and recognition, how the compliance transition will be monitored, and what enforcement mechanisms will apply to non-compliant exchanges during the voluntary phase remain open questions.