Russia’s Central Bank allows select banks to offer regulated crypto services under strict AML, transparency, and capital rules to modernize finance.
The Russian Central Bank will now permit select commercial banks to offer crypto services. These activities will fall under strict new regulatory oversight. This important decision comes amidst increasing pressure from the country’s financial sector. It marks a significant change in the conservative crypto policy of the country. The action is to modernize the financial system while managing the natural risk.
Central Bank Grants Limited Access Under Strict Capital Rules
This new framework was affirmed by a top Central Bank manager. Regulations on cryptocurrency activities are still important. This is mandatory so that the commercial banks should have no concentration on this sector. Therefore, the bank has a basically conservative attitude. Incredibly, they are thinking twice about the suitability of crypto assets on bank balance sheets.
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The Deputy Chairman of the Central Bank explained the decision. Consultation with the professional banking sector has been completed. That would be completely unreasonable if banks were excluded from such operations. Therefore, the bank has made the conditions for participation clear. This controlled admission helps reduce acute systemic risk.
All standard AML regulations are to be followed. This is a requirement for any crypto transaction. The regulator stressed that transparency of transactions is very important. Furthermore, the bank emphasizes the transparency of funds and identities. The international community understands that crypto is at a higher risk of illegal funds.
The agency representative described the needed transparency. All participating persons shall be properly identified. All investments need to be transparent and entirely traceable. Equally important, transparency is required of sources of funds. This tough approach brings Russian policy in line with international AML standards.
New responsibilities are placed upon banks, brokers, and exchanges. They will have the responsibility to constantly keep an eye on illegal transactions. Moreover, they will be obliged to deny processing. They have to refuse to do business with unqualified clients. Some of these clients may not be qualified for investing according to the new legal requirements.
New Rules Seek Swift Passage of Comprehensive Crypto Legislation
The effort is the result of mounting pressure from the financial sector. Banks are now moving to reduce existing restrictions by quite considerable amounts. This pressure is being intensified by ongoing Western sanctions. It is also motivated by the constant instability of the ruble. The financial sector needs new means of international settlement.
Russia had already implemented an experimental legal regime much earlier in 2025. This type of regime already provides for the participation of qualified companies. Specifically, digital assets can be used for international payments by wealthy investors. People must have at least 100 million rubles in deposits. They are also required to report an annual income of over 50 million rubles.
Cryptocurrency holders can sell their property in Russia. This should be done through the national financial infrastructure. In addition, they can utilize foreign infrastructure in “other transactions.” This differentiation sheds light on allowable activities under the new scheme. This double orientation meets the domestic and international demands.
Action was called for by the bank official and Governor Elvira Nabiullina. They demanded the immediate passing of a comprehensive cryptocurrency bill. The primary legislation should be passed by 2026. From now on, the bill would create a complete licensing regime for crypto service providers. It would also clarify the legal status of crypto entities.