TLDR
- Russia’s Central Bank plans stricter crypto regulations for banks starting in 2026, including capital requirements and investment standards
- Banks advised to limit crypto operations to no more than 1% of their capital and provide full coverage for cryptocurrency instruments
- New rules will apply to crypto-based financial instruments and loans to crypto companies
- State Duma lawmakers urge creation of legal crypto exchanges to reduce illegal trading
- Central Bank remains opposed to domestic crypto payments despite allowing limited foreign trade use
Russia’s Central Bank is preparing comprehensive regulations for financial institutions handling cryptocurrency operations. The new rules aim to reduce risks for commercial banks and their customers dealing with digital assets.
The regulations are expected to take effect in 2026. They will establish specific capital requirements for banks engaged in crypto-related activities.
The Central Bank of Russia has already contacted 97 banks about the upcoming changes. These institutions received guidance to adopt conservative approaches when assessing crypto operation risks.
Banks Face Capital Limits and Coverage Requirements
Under the proposed rules, banks must limit crypto operations to no more than 1% of their capital. The regulator also requires full coverage for the nominal value of cryptocurrency instruments.
The new standards will apply to both direct and indirect cryptocurrency investments. Banks will face restrictions on loans issued to crypto companies as well.
Financial institutions will need to meet specific requirements for crypto-based financial instruments. These rules cover instruments both purchased and issued by the banks themselves.
The Central Bank emphasized that these measures protect both commercial banks and their clients. The regulator wants to minimize risks stemming from volatile crypto markets.
Banks received instructions to treat cryptocurrency transactions conservatively until the new rules are finalized. The regulator stressed the importance of careful risk assessment for all digital asset operations.
Political Pressure Mounts for Crypto Legalization
The Central Bank historically opposed decentralized cryptocurrencies like Bitcoin. However, Western sanctions forced the regulator to allow limited crypto use in foreign trade.
State Duma lawmakers recently urged the bank to create legal crypto exchanges. The parliamentary group believes legalized trading would reduce illegal cryptocurrency circulation.
The lawmakers proposed minimum capital requirements for crypto exchange operators. This would ensure trading platforms maintain financial stability.
Russia’s finance ministry supports creating a cryptocurrency exchange for qualified investors. This initiative would operate in collaboration with the Central Bank.
Russian citizens invested $16 million in Bitcoin futures within one month of authorization. This rapid adoption shows growing demand for crypto investment products.
The country’s total crypto holdings exceed $25 billion according to recent reports. This growth puts additional pressure on regulators to develop clearer policies.
The Central Bank permitted crypto investments through derivatives in May 2024. However, these products remain available only to highly qualified buyers.
Russia plans to launch its digital ruble starting September 1, 2026. The state-issued digital currency represents the third form of the national currency alongside cash and bank money.
