Russia registers first self-regulatory body for crypto exchangers, depositories

Russia’s central bank has officially registered its first self-regulatory organization aimed at overseeing crypto exchangers and digital depositories. This move designates the National Association of Securities Market Participants (NAUFOR) as a key player in setting industry standards and ensuring compliance within the sector. The registration is seen as a significant step in formalizing the regulatory framework for digital assets in Russia, potentially increasing confidence among market participants. Currently, the central-bank registries include 23 crypto-exchange participants and eight digital depositories, involving major financial entities such as VTB, Sberbank, and T-Bank.