Russia Plans Simplified Licensing Path for Banks to Launch Crypto Exchanges
Russia’s central bank is exploring a new regulatory structure that would make it easier for traditional financial institutions to enter the cryptocurrency exchange business.
Under the proposal, banks and brokerage firms could be permitted to operate digital asset trading platforms through a simplified authorization process tied to their existing financial licenses. Instead of applying for a completely new permit, institutions would only need to notify regulators to begin offering crypto exchange services.
According to comments from Elvira Nabiullina, the initiative builds on the compliance infrastructure already present within the banking system. She noted that financial institutions already operate extensive frameworks for anti-money laundering and counter-terrorism financing, which regulators believe could support a safer entry into the crypto market.
The central bank is still approaching the sector cautiously. Officials have suggested limiting banks’ exposure to cryptocurrency-related activities to just 1% of their capital at the start. Regulators intend to monitor how institutions operate within that cap before deciding whether broader participation should be allowed.
The proposal is part of a wider legislative effort being developed jointly by the central bank and the Finance Ministry. The draft bill categorizes cryptocurrencies and stablecoins as currency-type assets that can be traded, but it maintains a ban on their use for payments within Russia.
The framework would also introduce different access levels for investors. Qualified investors would be able to buy digital assets without restrictions, while retail participants would face limits. Non-qualified investors could purchase up to 300,000 rubles (about $3,800) in crypto per year and would be required to trade through a single intermediary.
Russia has also updated its requirements for investors seeking “qualified” status. Individuals may qualify through financial education credentials, such as a master’s degree in finance, or by meeting financial thresholds. Eligibility could also be granted to those earning at least 20 million rubles annually or meeting property ownership requirements. That property threshold is expected to double from 12 million rubles to 24 million rubles starting January 1, 2026.
According to Deputy Finance Minister Ivan Chebeskov, the draft legislation is expected to be submitted to the State Duma in March. If approved, the core regulatory framework could come into force on July 1, 2026.