Russia's Central Bank Opens Applications for Crypto Exchanges and Custodians, First Licenses Possible by Year-End
- —Application review period is 30 business days
- —First license could be issued before year-end
- —Russia legalized crypto trading on September 1
- —Central bank caps banks' own crypto holdings at 1% of capital
Why it matters: Formalizing the registry boosts crypto's legitimacy in Russia, but without issued licenses the near-term price impact remains limited.
Source: Siam Blockchain
More on this
Regulation · Sep 22Russia's Finance Ministry: Custodians Won't Compensate for Crypto Frozen by Foreign Issuers
Regulation · Sep 22Russia Prepares Legal Crypto Framework by Year-End, Sberbank to Launch Custody in December
Regulation · Sep 30UK's FCA Opens Crypto License Applications, Sets Feb. 28 Deadline for Existing Firms