First crypto-sector SRO triggers 90-day membership requirement
The Bank of Russia has registered the first self-regulatory organisation for digital depositories and cryptocurrency exchange offices. Entities in the relevant central bank registers must join the SRO within 90 days under current legislation.
Registration activates the membership obligation
The Bank of Russia has entered the first self-regulatory organisation (SRO) for digital depositories and cryptocurrency exchange offices into its unified register of SROs.
The registration establishes a registered self-regulatory body for these two categories of financial market participants.
Current legislation requires digital depositories and cryptocurrency exchange offices listed in the relevant Bank of Russia registers to join the SRO within 90 days.
The announcement therefore concerns both the registration of the organisation and the membership requirement for entities already included in the central bank's relevant registers.
Two sets of registers
The notice distinguishes between the unified register of self-regulatory organisations and the relevant registers covering digital depositories and cryptocurrency exchange offices.
The first records the SRO; inclusion in the latter registers determines which entities face the membership obligation.
The Bank of Russia presents the 90-day requirement as a provision of current legislation, rather than a new rule introduced through this announcement.
Membership is mandatory
For registered entities, joining the SRO is a legal obligation, not a voluntary affiliation.
The operational focus is the 90-day membership requirement.
The notice does not describe the SRO's internal standards or explain how it will oversee members.