Russia's NAUFOR becomes self-regulatory organization for DFA operators

MOSCOW. Oct 8 (Interfax) - The Central Bank of Russia has entered the National Association of Securities Market Participants (NAUFOR) into the unified register of self-regulatory organizations (SRO) for operators of information systems in which digital financial assets (DFA) are issued, according to information on the regulator's website.

Operators of information systems in which DFAs are issued are obligated to join SROs in the financial market within 90 days after the information is entered into the CBR's register. For operators of information systems admitted to the market before September 1, 2026, this period is 180 days. To date, 25 operators of information systems have been included in the Central Bank's register.

An operator of information systems admits users to the information system, ensures the execution of transactions with DFA and the settlement of such transactions using a nominal account, and also interacts with authorities on matters of providing information and executing court decisions.

NAUFOR has also sent documents to the Central Bank to obtain the status of a self-regulatory organization for two more types of activity - digital depositories and organizations engaged in the exchange of digital currencies.

As an SRO for participants in the digital assets and digital currencies market, NAUFOR will participate in the process of developing activity standards and monitor their implementation, provide methodological support to its members, and represent the interests of the industry before the Central Bank in refining legislation and the regulatory framework.

Currently, NAUFOR is a self-regulatory organization in the financial market for brokers, dealers, securities managers, depositories, investment advisers, management companies of mutual funds/non-state pension funds, specialized depositories, registrars, and joint-stock investment funds. The organization has been operating since 1996.

DFA are digital analogues of securities that are issued in the form of records in an information system based on a distributed ledger and confirm the investor's rights to an asset.