The Bank of Russia's directive has been registered by the Russian Ministry of Justice. Before trading begins, exchanges must agree on the rules for their conduct with the regulator, according to the Central Bank's website. Cryptocurrency trading is set to begin on November 22.
Trading organizers will register participants — brokers, trust managers, and central counterparties. They will also need to maintain registers of orders and transactions and monitor operations, the Bank of Russia's statement says.
Exchanges must calculate the current, weighted average, and market prices of cryptocurrencies, as well as the closing price. They will transmit information on the progress and results of trading to the Central Bank in the same manner as data on other assets.
