The Bank of Russia is preparing rules for digital depositories that will store and account for cryptocurrency in the Russian organized market. The new framework is expected to become operational after the digital currency law comes into force on September 1, 2026.

The requirements for future custodians turned out to be stringent. The minimum capital will be 50 million rubles, for operations with foreign systems – 100 million, and for settlement depositories – over 250 million rubles. The cryptocurrency itself will not be allowed to be accounted for as capital.

Depositories will not only be responsible for asset storage. They will have to maintain registers of clients, accounts, operations, and digital currencies, assign unique codes to owners, and check transfers for suspicious activity. This will require secure data centers, backup sites, and significant improvements to security systems.

Market participants can use existing digital financial asset platforms as a basis, but it will not be possible to completely avoid large expenses. According to experts, creating such a depository could cost hundreds of millions of rubles, so the market will likely consolidate around a few large companies.

The downside of regulation will be slower operations and higher fees. Traders will gain the protection and control customary in the financial market but will lose some of the speed that decentralized crypto platforms are known for.