Bank of Russia licenses 17 crypto dealers as Sber, VTB near launch

Russia's central bank has added a 17th company to its register of licensed crypto exchange providers, as the country's two largest banks, Sberbank and VTB, get ready to sell bitcoin and other coins to ordinary customers, DL News reported. Here are the key points.

The register is filling fast

The newest entry, Prosto LLC, was added on Thursday. The list had just four firms when it opened on Oct. 6. A separate register of digital depositories, the firms that record who owns which coins, now has eight members. Both registers implement the law "On Digital Currencies and Digital Rights", in force since Sept. 1, which for the first time brings crypto trading into Russia's regulated financial system.

Sberbank and VTB hold both licences

The two state-controlled lenders were among the first five depositories approved on Oct. 6. VTB was listed as an exchange provider the same day, and Sberbank followed on Oct. 12, according to Interfax. With both licences, a bank can trade crypto in its own name and also keep the record of its clients' holdings. We reported on Sberbank's first approval earlier this month.

Launch dates are set

VTB says retail access will open through its VTB My Investments app in November and through the bank's own exchange in December 2026; its broker already made its first stablecoin deals for corporate clients on Oct. 6. Sberbank plans its first crypto products for Dec. 1 in apps customers already use, though it says the date depends on the rules being ready. It is already testing bitcoin, ether and USDT trades, CoinDesk reported.

Strict limits for retail buyers

Ordinary (non-qualified) investors will only be able to buy the most liquid coins, must pass a test first and are capped at 300,000 roubles (about $3,800) a year per intermediary. Qualified investors face no cap.

Off-platform trading is being squeezed

The licensed route comes as Russia moves to close unregulated channels: the Bank of Russia has said direct P2P crypto trades will be banned from July 2027. For readers elsewhere, the basics of choosing a regulated venue are in our guide to centralized vs decentralized exchanges.