Russia’s central bank has handed the National Association of Securities Market Participants, known as NAUFOR, formal self-regulatory organization status, giving the 30-year-old trade body authority over cryptocurrency exchanges and digital depositories operating under the country’s new licensing regime.

The decision, dated October 29, marks the first time a Russian SRO has been designated to write industry standards and monitor compliance for digital-asset platforms. Under the framework law “On Digital Currency and Digital Rights,” which took effect in September, every licensed exchange and depository must join an SRO within 90 days of registration.

The Bank of Russia’s register currently lists 23 crypto exchanges and eight digital…