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Russia has officially admitted its first cryptocurrency exchange operators and digital custodians into the country’s regulated financial market.

The Bank of Russia says 4 crypto exchange organizations and 5 digital depositories are now registered under the new framework that took effect in September.

This is bigger than just another regulatory announcement.

It means Russia is moving from a largely uncertain crypto environment toward a formal infrastructure where registered companies can provide specific digital-asset services under central-bank oversight.

The framework also allows registered crypto exchanges to buy and sell digital currencies on their own account outside organized trading, while custodians can provide services for recording and transferring digital currencies and digital rights.

And the story gets even more interesting: Sberbank and VTB Bank are among the organizations appearing in Russia’s new regulated crypto infrastructure.

The global crypto race isn't only about prices anymore.

It is increasingly about who builds the regulatory and financial infrastructure for digital assets first.

What do you think—will more major banks eventually become part of the regulated crypto market?

#CryptoNews #Bitcoin #Ethereum #CryptoRegulation #Russia #Blockchain #DigitalAssets #Web3 #BinanceSquare