Sberbank, Russia’s largest lender, has announced plans to launch its cryptocurrency trading platform and digital depository by December 1, 2026. The bank, which is listed in Moscow under the symbols SBER and SBERP, is developing tools to track crypto ownership and process customer transactions in line with new legislation currently moving through the Russian parliament.
Regulatory milestones and legislative background
These preparations come as the State Duma approved the “On Digital Currency and Digital Rights” bill on July 21. The legislation, which still awaits approval from the Federation Council and President Vladimir Putin’s signature, would overhaul the legal landscape for crypto in Russia.
The bill establishes a comprehensive framework for the industry. It sets standards for crypto purchases by citizens, licensing of intermediaries, exchange operations, clearing, custody, and digital depositories. While Russia currently permits crypto ownership, mining, trading, and some overseas usage, using digital assets for local payments remains prohibited.
At present, the sector operates under a patchwork of tax, anti-money laundering, mining, and digital asset regulations. This fragmented approach requires businesses to comply with multiple sets of rules. Sanctions have also encouraged enterprises to seek alternative cross-border settlement options, increasing interest in cryptocurrency solutions.
Sberbank’s infrastructure initiative
Alexander Vedyakhin, First Deputy Chairman of Sberbank’s Management Board, stated that a digital depository would be a key element of the new platform, maintaining records of clients’ crypto assets and handling transactions outside the main blockchain. He noted the infrastructure for crypto trading and the digital depository is targeted for rollout by December 1, 2026.
One of the key elements of the new infrastructure will be a digital depository, which will maintain records of clients’ cryptocurrency rights and account for transactions outside the main blockchain. It will also facilitate transactions on active wallets to fulfill clients’ currency transfer orders. Sberbank plans to implement the necessary infrastructure for cryptocurrency trading and launch the digital depository by December 1, 2026.
Vedyakhin observed that much regulatory work remains, particularly regarding licensing new tiers of intermediaries and establishing proper depository and accounting systems. He added that Sberbank is ready to share its expertise and actively support further development of the regulatory framework.
A large number of bylaws necessary for building the infrastructure and technological base—from depository and accounting systems to licensing new types of intermediaries—remain to be developed and adopted. Sber is ready to continue sharing its expertise and actively participate in this work.
Sberbank has already gained a foothold in Russia’s digital financial assets (DFA) market. Since entering the national register of information system operators in 2022, the bank has been involved in structuring bonds and DFAs linked to Bitcoin, Ethereum, and other cryptocurrencies for qualified investors.
In December 2025, Sberbank completed a pilot for issuing loans backed by crypto assets, testing the use of digital currency as collateral and assessing the associated risks and record-keeping procedures.
Mini dictionary: Sberbank, Russia’s largest commercial bank, plays a leading role in the Russian banking sector and is majority-owned by the Russian government.
New requirements for exchanges and investors
If the new bill becomes law, exchanges, brokers, custodians, and digital depositories would need licenses to operate. The Bank of Russia would supervise these entities, maintain a list of authorized operators, and ensure compliance with regulations. Only companies registered on the official list could legally provide crypto exchange services.
A two-year grace period has been provided for existing market participants, allowing them to function outside the register until July 1, 2027, while they complete the licensing process.
Retail investors would face strict limits, with non-qualified investors allowed to purchase up to 300,000 rubles (about $3,800) in digital assets annually through authorized intermediaries. Qualified investors would face no such yearly restriction.
| Investor Category | Annual Digital Asset Purchase Limit |
|---|---|
| Non-qualified | 300,000 rubles (approx. $3,800) |
| Qualified | No limit |
The legislation maintains the ruble as the country’s only legal currency. Cryptocurrencies and digital rights remain barred for use in day-to-day domestic transactions. However, exceptions are available for certain foreign trade deals, payments tied to mining, and transactions related to securities or other digital currencies.
If ratified by the Federation Council and signed by Putin, the main legal provisions will take effect on September 1, 2026, shaping Russia’s digital asset market for years ahead.
