The Central Bank of Russia (CBR) is making a big shift. It will now let banks handle cryptocurrencies. This move comes with strict rules on how much exposure banks can have. The regulator admits it cannot completely block its banks from the growing crypto market. Instead, it aims to control risks while allowing some participation.
This new direction means the CBR will let banking institutions deal with digital assets. However, they must follow strict capital and reserve requirements. Vladimir Chistiukhin, the CBR’s First Deputy Governor, announced this at the Finopolis forum. He stated that the regulator remains careful about decentralized digital currencies like Bitcoin. Yet, he agreed it makes little sense to keep banks totally out of this emerging market, as reported by Cryptopolitan.
Stiff Rules for Banks and Crypto
Chistiukhin made it clear that the Bank of Russia will set “quite strict requirements.” These rules aim to stop crypto dealings from becoming the main business for financial institutions. The goal, he said, is to balance new ideas with a stable banking system.
“We are conservative,” Chistiukhin told the Interfax news agency. “But after talking with professional bankers, we decided it probably makes sense not to fully exclude banks from these operations.”
The Central Bank suggested limiting a bank’s crypto investments to no more than 1% of its total capital. This limit is part of a bigger plan. It ensures banks keep enough reserves and manage related risks well.
The CBR has been one of the toughest regulators in Moscow. It resisted the free use of cryptocurrencies in the Russian economy. But international sanctions, put in place after the conflict in Ukraine, have forced a new look at this stance.
An Experimental System Under Pressure
Earlier this year, Russia approved an “experimental legal regime” for crypto transactions. This setup lets Russian companies use digital currencies for international payments. It also gives limited access to certain “highly qualified investors.”
In May, authorities gave permission to financial firms. They can now offer crypto products to companies and people who meet specific wealth and income levels. For individuals to be “qualified investors,” they must have at least 100 million rubles (about $1,200,000) in savings and investments. Their yearly income also needs to be over 50 million rubles (about $600,000).
These standards are still being worked out with the Ministry of Finance. The Central Bank wants a clear framework. It should blend government control with private sector involvement in the digital market.
🚨 El Banco de Rusia permitirá operaciones bancarias con criptomonedas 🚨
Bajo un lÃmite de exposición del 1% del capital.
Buscan equilibrar la innovación y la estabilidad financiera.
Se prevé una ley integral sobre criptomonedas para 2026.
Un cambio significativo en el… pic.twitter.com/QPCun3HCQh
— Diario฿itcoin (@Blaze Trends)
A Crypto Law on the Way
During the forum, Chistiukhin also shared news about a future law. The Bank of Russia expects a full law on cryptocurrency investments by 2026. He told RIA Novosti that this law would cover everything. This includes getting licenses and protecting consumers.
“We would like a law to be passed that regulates all aspects of cryptocurrency investment in 2026,” he said. If this happens, licensed service providers could enter the market before that year ends.
The official noted it will take time to define the legal standing of current crypto businesses. This will mean changing existing laws related to legal and financial enforcement. These changes, he explained, would go into effect in 2027.
Growing Agreement in Finance and Politics
The Bank of Russia’s new stance has strong support. Governor Elvira Nabiullina told TASS she expects the bill to reach the State Duma “soon.” Nabiullina agrees that now is the time to find common ground. This will allow a regulated crypto market to grow without hurting the country’s financial stability.
Chistiukhin concluded that this plan will let Russia keep the new digital tools innovative. At the same time, it ensures government oversight. This will prevent misuse or instability.
This step shows a practical change. It accepts the reality of cryptocurrencies. But it does so under conditions that keep state control over a sector that, despite official caution, continues to grow worldwide.