Russian Association Seeks Self-Regulatory Status for Crypto Exchanges

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Russian Association Seeks Self-Regulatory Status for Crypto Exchanges

Russian association seeks SRO status for crypto exchanges.

On September 1, the “Association of Organizations Engaged in Digital Currency Exchange” (AOCD) held a congress in Moscow. ForkLog reported on the plans for this meeting in August.

According to its website, AOCD is preparing to obtain the status of a self-regulatory organization (SRO).

“The AOCD Association was established in 2026 in response to the introduction of digital currency regulation in Russia. It serves as a platform where digital currency exchanges form a consolidated industry position and prepare proposals for dialogue with the Bank of Russia,” the website states.

The announcement notes that the association “develops industry recommendations, maintains a member registry, and prepares the foundation for a future system of standards and control.”

Participants at the congress discussed issues related to the transition period and regulatory requirements, RBC Crypto reports. According to the publication, some industry representatives expressed concerns that the new rules could negatively impact the exchange business economy.

Under the rules, crypto exchanges must:

• have a capital of at least 15 million rubles;
• be listed in the Bank of Russia’s registry;
• join a relevant SRO.

Maxim Bokov, chief analyst at “Shard,” told ForkLog that the capital requirements align with global trends:

“Market participants in Russia consider this threshold high. However, in the EU, a MiCA license requires at least €125,000, and total launch costs can reach €500,000. In Kyrgyzstan, the capital must be 40 million soms (about 42 million rubles). In Russia, the requirements are even below average compared to other regulated jurisdictions.”

The law provides a transition period until June 30, 2027. Bokov believes most players will not rush to legalize, allowing large financial organizations to take the lead:

“Many banks are already conducting cryptocurrency operations and are ready to start. Other market participants will likely observe how the first players launch before making a decision.”

Bokov also emphasized that creating an SRO is standard practice in the financial sector. The organization’s success will depend on its ability to protect business interests in dialogue with the regulator.

According to media reports, the NAUFOR decided to obtain SRO status for operators of information systems, digital depositories, and crypto exchanges. According to the association’s president, Alexey Timofeev, the organization intends to submit documents in the first half of September for at least some of the new activities.

Earlier, on August 31, the Bank of Russia announced the launch of the digital ruble.

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Source: forklog.com