Russia approves NAUFOR to oversee crypto exchanges under new regulation

The Central Bank of Russia has granted self-regulatory organization status to the National Association of Securities Market Participants (NAUFOR), empowering it to oversee digital depositories and cryptocurrency exchanges. The decision, made on October 29, aims to solidify Russia’s regulatory structure for the crypto sector. NAUFOR’s new mandate follows the passage of Russia’s “On Digital Currency and Digital Rights” framework in July, which established a comprehensive standard for digital asset markets. The legislation requires all operators of crypto exchanges and depositories to register with the central bank and to become members of a self-regulatory organization (SRO). The central bank’s registry currently includes 23 crypto exchanges and eight digital depositories, among them prominent institutions such as VTB, Sberbank, and entities under T-Technologies, the holding company behind T-Bank.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinTurk News.