Sberbank, Russia’s largest banking institution, plans to launch cryptocurrency trading infrastructure and a digital depository by December 1, 2026, as Russia moves toward a broader legal framework for digital currency and digital rights.

The initiative is tied to the recently approved bill “On Digital Currency and Digital Rights,” which is expected to establish a more comprehensive regulatory environment for cryptocurrencies in Russia if it is approved by the Federation Council and signed by President Vladimir Putin. Under the proposed framework, new standards would apply to the purchase of digital currencies by citizens, while intermediaries would be required to obtain licenses. The use of digital assets for everyday domestic payments would remain prohibited, keeping the proposed infrastructure focused on trading, custody, accounting and transfer-related services rather than routine consumer payments.

Russia’s current digital asset rules are spread across several areas, including taxation, anti-money laundering requirements and mining regulation. Businesses operating in the sector must navigate those separate obligations, while crypto assets have also been used in international transactions as companies seek settlement channels amid sanctions.

Sberbank’s planned system is intended to support cryptocurrency trading and asset administration through a digital depository. The depository would maintain records of clients’ cryptocurrency rights and account for transactions conducted outside the main blockchain. It would also support operations involving active wallets in order to fulfill clients’ currency transfer orders.

According to the stated timeline, Sberbank plans to implement the necessary infrastructure for cryptocurrency trading and launch the digital depository by December 1, 2026. The platform is designed to manage client orders and digital exchanges within the regulatory structure expected to emerge under the new legislation. If the core provisions take effect on September 1, 2026 as planned, the bank’s target launch would follow roughly three months after the new rules begin applying.

Significant regulatory work remains before the system can operate under the proposed framework, particularly around licensing and oversight of new types of intermediaries. Sberbank said many bylaws still need to be developed and adopted to support the required infrastructure and technology base, including depository and accounting systems.

“A large number of bylaws necessary for building the infrastructure and technological base—from depository and accounting systems to licensing new types of intermediaries—remain to be developed and adopted. Sber is ready to continue sharing its expertise and actively participate in this work,” the bank said.

Sberbank already has a position in Russia’s digital financial market, including activity involving digital financial assets linked to Bitcoin and Ethereum. The bank has also completed a loan trial using crypto assets, assessing the related risks and operational processes.

Once the new law comes into force, cryptocurrency exchanges and brokers would be required to obtain appropriate licenses. The Bank of Russia would regulate and monitor those entities to ensure compliance with the new requirements. That licensing layer is central to the planned shift from fragmented obligations toward a supervised market structure for entities handling digital currency transactions.

The framework also differentiates between retail investors and qualified participants. Retail investors would face capped annual purchase limits, while qualified participants would be allowed to carry out transactions without those limits.

If the Federation Council approves the reform and President Putin signs it, key legal provisions are expected to take effect on September 1, 2026.