Key Takeaways
- The initiative seeks to introduce regulated access to digital assets while maintaining strict oversight to manage potential risks.
- Individuals must meet financial thresholds—holding over 100 million rubles in securities and deposits or earning more than 50 million rubles annually—to be eligible.
The Central Bank of Russia has proposed allowing a restricted group of investors to trade crypto under a three-year experimental framework. The initiative, which has now been submitted to the government for review, seeks to introduce regulated access to digital assets while maintaining strict oversight to manage potential risks.
The proposed framework would limit participation to “particularly qualified investors.” Individuals must meet financial thresholds—holding over 100 million rubles in securities and deposits or earning more than 50 million rubles annually—to be eligible. Corporate investors and financial institutions that comply with regulatory standards would also be allowed to participate.
Despite this controlled entry into crypto trading, the Bank of Russia continues to oppose the use of digital currencies as a legal means of payment within the country. The proposal explicitly bans crypto transactions between Russian residents outside the experimental framework, with penalties for violations. However, it does allow qualified investors to access financial products linked to crypto value, such as derivatives and digital financial assets, without direct ownership of crypto itself.
The central bank maintains that private cryptocurrencies remain highly volatile and are not backed by any regulatory authority. Investors who choose to engage in this market would bear the risks independently, without government safeguards against potential losses.
Russia has historically taken a cautious stance on digital assets, restricting their domestic use while exploring their potential for investment and international transactions. In response to Western sanctions, regulatory adjustments have allowed businesses to use crypto for cross-border payments, but domestic transactions remain tightly controlled.
As part of the experimental program, the central bank plans to establish regulatory guidelines for financial institutions seeking exposure to digital assets. Companies already classified as qualified investors under Russian financial laws will also be eligible to take part in the pilot initiative
