Key Facts

—The rule. On July 1 the central bank folded crypto service firms into the same prudential rulebook that governs banks and brokerages.

—The class. Exchanges are designated “Type 3”, the same treatment given to securities brokers and dealers.

—The demands. From January 2027 firms must meet capital requirements, risk-management rules and disclosure duties.

—The runway. Providers sit in a transition band, known as Segment 4, until the end of June 2028 regardless of size.