- Central Bank proposes notification-based authorization for banks to operate crypto exchanges.
- Banks and brokers could use existing licenses and AML systems to act as intermediaries.
- An initial exposure cap of 1% of bank capital to limit risk.
- Draft law aims for State Duma review in spring and effect from July 1, 2026.
Russia’s central bank wants to fold cryptocurrency trading into its existing banking framework, with banks leading the way.
Governor Elvira Nabiullina outlined the proposal at a meeting with lending institutions, suggesting that banks and brokerage firms could operate crypto trading venues under a notification mechanism tied to their current financial licenses, rather than applying for a separate digital-asset permit.
Speaking at the event and cited by Interfax, Nabiullina argued that institutions already running AML and counter-terrorism financing compliance programs were well-positioned to supervise crypto activity and protect retail customers entering the market.
The central bank submitted the broader regulatory concept to the government in late 2025. It envisions formally recognizing cryptocurrencies and stablecoins as currency assets tradeable through regulated intermediaries, while preserving the longstanding ban on using digital assets for domestic payments. Crypto would remain an investment instrument, not a substitute for the ruble.
READ MORE: Polkadot Price Prediction Ahead of March 12 Protocol Overhaul
A Tiered System With Built-In Limits
The draft framework introduces guardrails designed to slow-walk exposure. During an initial integration phase, banks’ crypto-related activity would be capped at 1% of capital. Regulators plan to monitor performance within that ceiling before considering any adjustment, a deliberate brake on institutions that might move too aggressively into unfamiliar territory.
Access rules would also vary by investor type. Qualified investors would face no purchase restrictions. Non-qualified investors would be limited to 600,000 rubles, roughly $3,800, annually through a single intermediary.
Russia overhauled its definition of qualified investors last year, linking eligibility to criteria such as a master’s degree in finance, annual income of at least 20 million rubles, and property thresholds set to rise further in 2026.
Draft legislation is expected to reach the State Duma during the spring session. Anatoly Aksakov, chair of the Duma’s Financial Market Committee, has indicated lawmakers are targeting a finalized bill by late June. Deputy Finance Minister Ivan Chebeskov suggested the initial review could begin as early as March, with core provisions set to take effect July 1, 2026.
How quickly Russia’s regulated crypto market takes shape will depend on whether parliament sticks to that schedule and whether banks are willing to absorb the compliance costs that come with it.
READ MORE: BitMine Stock Price Forecast: Here’s Why BMNR is Ripe For a Breakout
