TLDR
- Russia’s Central Bank is planning stricter regulations for financial institutions handling cryptocurrency transactions.
- The new rules will enforce capital requirements and impose limitations on loans provided to crypto companies.
- Banks will be advised to limit crypto transactions to no more than 1% of their capital to reduce risk.
- Russia’s State Duma urges the Central Bank to legalize cryptocurrency exchanges to combat illegal trading.
- The Central Bank of Russia remains opposed to crypto payments within the country despite easing restrictions on crypto use in foreign trade.
Russia’s Central Bank (CBR) plans to introduce stricter regulations for financial institutions dealing with digital assets. The new rules are aimed at reducing risks associated with crypto transactions for banks. These regulations are expected to come into effect in 2026. The CBR intends to impose specific capital requirements and introduce standards for investments related to cryptocurrencies.
Russia to Enforce Stricter Capital Rules on Banks
The new regulations will enforce stricter capital requirements for banks engaged in crypto-related operations. Financial institutions will also face limitations on loans provided to crypto companies. The CBR emphasized that banks must treat cryptocurrency operations with caution until the rules are fully implemented. The authorities suggested that crypto transactions be limited to no more than 1% of a bank’s capital.
The Bank of Russia’s guidelines also include introducing new standards for crypto-based financial instruments. These instruments, purchased or issued by banks, will be subject to the new regulations. The intention is to protect both commercial banks and their clients from potential risks tied to crypto markets.
Pressure on the Central Bank to Relax Its Crypto Stance
Despite its historically strict stance on decentralized cryptocurrencies like Bitcoin, Russia’s Central Bank has recently softened its position. Earlier this year, the regulator allowed limited crypto use in foreign trade due to Western sanctions. However, the CBR remains firmly opposed to allowing crypto payments within Russia.
Recently, Russia’s State Duma urged the CBR to facilitate the creation of a network of legal crypto exchanges. The lawmakers argue that legalizing cryptocurrency trading could reduce illegal crypto circulation and help build trust in financial institutions.
In parallel, Russia’s finance ministry has worked on plans for a cryptocurrency exchange aimed at qualified investors. This initiative would work in collaboration with the Central Bank of Russia. As Russia prepares to launch its own digital ruble in 2026, these moves reflect the country’s complex approach to cryptocurrencies.