Russia Central Bank Proposes $2.8M Capital Requirement for Digital Asset Platforms
Russia's central bank outlines new rules requiring digital asset platforms to hold up to $2.8 million in liquid capital ahead of a broader crypto framework.
The Bank of Russia has published draft rules for digital asset platforms, mandating that they maintain liquid capital of up to 200 million rubles (approximately $2.8 million). The proposal is part of a broader regulatory framework for cryptocurrencies expected to be introduced this fall.
Capital Requirements Detailed
According to the draft, platforms operating as digital asset depositories must hold the capital in liquid assets. The requirement aims to ensure financial stability and protect investors as Russia moves toward a comprehensive crypto regulation.
The central bank's move comes as part of a long-awaited crypto law that is expected to cover taxation, mining, and circulation of digital currencies. The framework is slated for adoption in the autumn session of the Russian parliament.
Industry observers note that the rules could impact both domestic platforms and international firms seeking to operate in Russia's crypto market.