The Central Bank of Russia is set to pave the way for banks and brokerages to launch cryptocurrency exchanges more easily, thanks to a new regulatory approach. According to Central Bank Governor Elvira Nabiullina, institutions that already hold a banking or brokerage license will be able to operate crypto trading platforms without the lengthy application process for a separate license. Instead, these organizations will simply need to notify the authorities before offering digital asset services.
Single License to Unlock Crypto Services
Under the proposed system, financial institutions will soon be able to launch digital asset services directly using their existing banking or brokerage licenses. This eliminates the need for new application procedures, streamlining market entry for banks and brokers wishing to establish crypto trading platforms. In January, Anatoly Aksakov, Chair of the Parliamentary Committee on Financial Markets, had already signaled that comprehensive legislation covering cryptocurrencies would be put to a vote by the end of June.
Limits and Oversight in the Initial Phase
Nabiullina stated that, at least in the early stages, banks’ activities in digital assets will be limited to just 1% of their capital. This cap is intended to ensure that existing compliance and risk management frameworks are leveraged to safely navigate the crypto market. Nabiullina elaborated on the draft regulation, highlighting:
Our vision is to enable banks and brokerages to operate crypto exchanges based solely on prior notification, without requiring an additional license; existing compliance systems can help shield customers from risks in the digital marketplace, Nabiullina emphasized.
The Central Bank plans to closely monitor how financial institutions operate within these boundaries. Once the preliminary period concludes, regulators will review whether to expand the scope of permitted activities, depending on the sector’s performance and risk management outcomes.
This simplified licensing process forms a key pillar of a broader reform package underway between the Central Bank and the Ministry of Finance, aimed at establishing a clear legal framework for digital assets in Russia. By the end of 2025, the two bodies plan to present the government with a regulatory concept that would officially recognize cryptocurrencies and stablecoins as financial assets, thus granting them a new legal status.
Under this envisioned framework, trading in digital assets will be possible exclusively through licensed and regulated platforms—such as exchanges, brokers, and agents—enhancing regulatory oversight of the crypto sector. However, longstanding restrictions on using cryptocurrencies for day-to-day payments are set to remain in place for the foreseeable future.
According to Deputy Finance Minister Ivan Chebeskov, the draft law is expected to reach the State Duma during the spring parliamentary session. Lawmakers are scheduled to review the bill in March, with the main provisions anticipated to take effect from July 1, 2026, giving the industry time to adapt to the new rules.
The planned regulations also envision a tiered approach to investor access in the crypto space. So-called “qualified investors”—individuals with significant wealth or specialized accreditation—will face no limits on their trading volumes. In contrast, retail users will be able to buy up to 300,000 rubles’ (about $3,800) worth of crypto assets per year through a single intermediary.
Russia recently updated the qualifications for “qualified investor” status, incorporating criteria such as postgraduate degrees, high annual incomes, or substantial assets legally held. The government also intends to tighten these ownership criteria even further by 2026, raising the bar for high-volume crypto participation.
