The Bank of Russia has published draft regulations outlining the country's first framework for what it called "organized trading" of digital assets and digital rights, including new requirements for crypto exchanges and digital depositories.
Under the proposals, exchanges would determine their trading procedures in their own rulebooks and calculate market and weighted average prices for digital assets and digital rights traded on their platforms.
The central bank also proposed creating digital depositories responsible for maintaining records of cryptocurrencies and digital rights.
These entities would be required to hold between 50 million rubles ($640,860) and 250 million rubles ($3.2 million) in equity, depending on whether they operate on open distributed ledgers or provide post-trade settlement services.
According to the draft regulations, the required capital must consist of liquid assets, while any financial assets included must be of high credit quality.
