Russia clears first crypto exchanges, custodians under new law

Overview of New Regulations## Russia has registered its first cryptocurrency exchanges and custodians under new regulations, marking a significant step in the country's crypto market. The Bank of Russia has listed four exchanges and five custodians, including Sberbank, which plans to launch crypto products by December 1. The move comes after Russian President Vladimir Putin signed a crypto law in August, creating a regulated framework for the industry.## Key Players in the Registered List## The Bank of Russia has listed four cryptocurrency exchange operators: T-Invest Lab, Zefir, Sistema-Crypto, and Voltari. Five digital custodians have also been registered, including Sberbank, Atomyze, Cloud Infrastructure, VTB Bank, and Sistema-Crypto.## Sberbank's Plans for Crypto Products## Sberbank, Russia's largest bank, has applied for digital custodian status and plans to launch its first crypto products on December 1. The bank initially plans to support Bitcoin, Ether, and USDt through its existing platforms. This move is expected to bring crypto trading to a wider audience in Russia.## Implications for the Russian Crypto Market## The registration of cryptocurrency exchanges and custodians under new regulations is expected to have a significant impact on the Russian crypto market. The move is seen as a positive step towards regulating the industry and providing a framework for exchanges and custodians to operate within. The Bank of Russia's oversight will help to ensure that the market operates in a transparent and secure manner.## Conclusion## Russia's registration of cryptocurrency exchanges and custodians under new regulations marks an important milestone in the country's crypto market. The move is expected to bring more stability and security to the industry, and provide a framework for exchanges and custodians to operate within.