Bank of Russia to Permit Crypto Operations Under Strict Regulatory Framework
The Bank of Russia is allowing select domestic banks to enter the crypto market under tight supervision, with capital restrictions and transparency rules in place to mitigate risks.
BTC
Fact Check
The statement is strongly supported by multiple recent sources from 2025. Most notably, a March 2025 press release from the Bank of Russia itself (cbr.ru) confirms plans to establish a 'special experimental legal regime' for cryptocurrency transactions. Other sources corroborate this, describing a 'phased regulatory framework' to integrate cryptocurrencies. While an older source from 2022 mentions a proposed ban by the central bank, the more current evidence clearly indicates a policy evolution towards permitting crypto operations under strict supervision.
Summary
The Bank of Russia has authorized select domestic banks to conduct cryptocurrency operations, imposing strict regulations such as a 1% cap on crypto exposure and higher reserve requirements. This step follows discussions with the banking sector, aiming to integrate crypto without disrupting traditional banking. The country is also set to introduce a cryptocurrency licensing system by 2026, driven by rising demand due to sanctions and a weakening ruble.
Terms & Concepts
- Anti-money laundering (AML): A set of regulations and procedures aimed at preventing the use of the financial system for money laundering, terrorist financing, and other illegal activities.
- Digital Assets: Any form of assets or value that exist in digital form, such as cryptocurrencies, tokens, or other blockchain-based assets.
- Reserve Requirements: Rules obligating banks to hold a certain percentage of customer deposits as reserves, influencing liquidity and financial stability.