Russia’s central bank is weighing a plan that would allow banks and brokerage firms to operate cryptocurrency exchanges through a simplified licensing path attached to their existing financial permits, according to remarks by Governor Elvira Nabiullina.
According to the proposal, financial institutions could obtain permission to run crypto trading platforms through a “notification process” instead of applying for a new standalone license.
The approach will allow firms that already hold banking or brokerage licenses to expand into digital asset services using their current regulatory status.
Back in January, Anatoly Aksakov, head of the State Duma Committee on the Financial Market, made comments that Russia was preparing to introduce its first comprehensive regulatory framework for cryptocurrencies such as Bitcoin, with lawmakers aiming to finalize the draft for a parliamentary vote by the end of June.
Nabiullina presented the idea during a meeting between the central bank and Russian lending institutions, according to reports by the Interfax news agency.
The governor framed the proposal as an attempt to integrate cryptocurrency activity into Russia’s existing financial infrastructure.
She argued that banks already maintain compliance systems designed to meet anti-money laundering and counter terrorist financing, which could form the basis for monitoring digital asset markets.
“We have proposed to allow banks and brokers to obtain crypto exchange licenses through a notification process and to act as intermediaries based on their current banking licenses,” Nabiullina said, adding that the sector’s existing compliance framework could help protect clients entering the crypto market.
The central bank also outlined limits designed to manage financial risks in the early stages of integration.
According to the proposal, banks’ exposure to cryptocurrency activities will be limited to 1% of their capital.
Nabiullina said regulators plan to monitor how institutions operate within that threshold before considering an expansion.
“Let’s start by looking at how banks operate within the one percent limit and then see if we need to move forward,” she said.
The licensing proposal is part of a broader effort by the Central Bank of Russia and the Ministry of Finance of the Russian Federation to establish a clearer legal framework for digital assets in the country.
In late 2025, the central bank submitted a regulatory concept to the Russian government that would formally recognize cryptocurrencies and stablecoins as currency assets that can be bought and sold through regulated intermediaries. The framework will allow trading through exchanges, brokers and administrators operating under existing financial licenses.
Crypto for domestic payments
At the same time, the proposal maintains a strict ban on the use of cryptocurrencies for domestic payments, a position the central bank has held for years. Digital assets would act as investment instruments rather than alternatives to the national currency.
Bills reflecting the concept are expected to reach the State Duma during the spring legislative session. Deputy Finance Minister Ivan Chebeskov has indicated that lawmakers could review the bill as early as March, with the main legislative framework scheduled to take effect on July 1, 2026.
The proposed rules would also introduce a tiered system governing who can access crypto markets.
Qualified investors will not face any restrictions on purchases. Non-qualified investors would be limited to buying up to 300,000 rubles, or about $3,800, in crypto assets each year through a single intermediary.
Russia updated the definition of “qualified investor” last year. Individuals can now qualify based on several criteria, including a master’s degree in finance, annual income of at least 20 million rubles or meeting property ownership thresholds set by regulators.
These asset requirements are scheduled to increase in 2026, when the property threshold rises from 12 million rubles to 24 million rubles.