Russia’s domestic crypto trading awaits central bank rules, due Dec

The partial activation of Russia's crypto law creates a regulatory vacuum for domestic trading, where infrastructure readiness outpaces legal clarity. The central bank's December timeline is the pivotal checkpoint, as it will determine whether entities like Sberbank and Finam can proceed with planned services or face further delays. The explicit warning about foreign operations lacking legal protection underscores a bifurcated market: cross-border activity is enabled but unshielded, while domestic activity awaits formal rules. Whether the December documents resolve this asymmetry—or merely extend the interim status—is the key dynamic to monitor.