Russia's NAUFOR becomes SRO for digital depositories, crypto exchanges

MOSCOW. Oct 29 (Interfax) - The National Association of Securities Market Participants (NAUFOR) has received the status of a self-regulatory organization (SRO) in relation to the activities of digital depositories and organizations carrying out the exchange of digital currencies, the association said.

The corresponding decision was made by the Central Bank of Russia on October 29.

The Central Bank's registry of crypto exchanges currently numbers 23 participants, and the registry of digital depositories stands at eight organizations, among them VTB , Sberbank and structures of T-Technologies (the holding of T-Bank).

Under current legislation, digital depositories and crypto exchanges included in the relevant Central Bank registries are obligated to join an SRO within 90 days.

In early October, NAUFOR received SRO status for information system operators (ISO).

As an SRO for participants in the digital assets and digital currencies market, the association will participate in developing standards, monitor their implementation, provide methodological support to CFA market participants, and represent the industry's interests before the Central Bank in refining legislation and the regulatory framework, NAUFOR said.

The association is also a self-regulatory organization in the financial market for brokers, dealers, securities managers, depositories, investment advisers, mutual/pension fund management companies, specialized depositories, registrars, and joint-stock investment funds. The organization has been operating since 1996, and its members currently include 725 organizations and individual entrepreneurs.