Central Bank of Russia issues Sberbank, VTB, other players licenses to operate on cryptocurrency market

MOSCOW. Oct 6 (Interfax) - The Central Bank of Russia has added Sberbank and VTB to the digital depository register, the regulator said on its website.

VTB Bank has also been added to the register of organizations which can exchange cryptocurrency. "We expect to open access to trading in digital currencies for a wide range of investors via VTB My Investments and directly via the bank's crypto exchange as early as November and December 2026 respectively," VTB Deputy CEO Vitaly Sergeichuk is quoted as saying in a statement from VTB My Investments.

In addition to Sber and VTB, the registry of digital depositories includes JSC Voltari, LLC Cloud Infrastructure and Atomyze.

Besides VTB, the registry of crypto-exchanges includes LLC Zefir, LLC Sistema Crypto and T-Invest Lab.

"Digital depositories can provide services to record and transfer digital currencies and digital rights, and grant clients access to the identifier addresses where such assets are recorded. Crypto-exchanges can buy and sell digital currencies in their own name and at their own expense outside of organized trading venues," the Central Bank said.

T-Technologies , the holding company of T-Bank, said earlier on Tuesday that its subsidiaries Atomyze and T-Invest Lab had obtained the necessary licenses to operate on the cryptocurrency market.

VTB's broker has already carried out its first digital currency transactions for corporate clients, with settlement handled through a digital depository. "A stablecoin transaction was concluded with the broker's corporate clients. Settlements were processed via digital accounts at a digital depository based on VTB's depository infrastructure. Blockchain access was facilitated through an upstream digital depository," the bank said, quoting Olga Kim, head of VTB's depository.

Sberbank said on October 5 that it planned to launch its first crypto-currency products on December 1, 2026, though the date depends on the Central Bank's decision regarding the application and whether regulatory acts are ready.

At the end of September, the CBR defined the procedure for companies to submit applications for licenses to act as digital depositories, crypto exchanges and information system operators (ISO) issuing digital rights, from October 5 onwards. Some existing players - for example, banks - have the option to use a simplified procedure for obtaining digital depository and crypto exchange licenses on a notification basis within just one day.

A law on digital currencies and digital rights came into effect in Russia on September 1, creating a comprehensive legal framework for cryptocurrency circulation. Transactions involving cryptocurrencies can be conducted via the existing infrastructure of exchanges, brokers and trustees, and henceforth also via crypto exchanges and digital depositories. Cryptocurrency can be purchased and sold via crypto exchanges and the rights to these assets can be recorded in digital depositories.

Non-qualified investors will only be able to purchase Bitcoin, Ethereum and Tether USDT within an annual limit of 300,000 rubles via one intermediary. Qualified investors will be able to purchase any cryptocurrency traded on exchange or over-the-counter markets in an unlimited amount. Exporters and importers may pay with cryptocurrency in cross-border settlements without restrictions. Following the transition period, as of July 1, 2027, there are plans make illegal intermediary activities in the cryptocurrency market punishable by law, with similar penalties as for illegal banking activities.