Bank of Russia Unveils Tiered Plan to Expand Crypto Access

The Bank of Russia has unveiled a new regulatory proposal to expand access to cryptocurrencies while cautiously maintaining strict supervisory control.

According to the central bank, the framework aims to address rising investor demand for digital assets without compromising financial stability or legal safeguards.

Rules for Retail and Professional Investors

A key aspect of the proposal is a clear distinction between retail and professional investors. Specifically, the Bank of Russia said access to cryptocurrencies would be determined by investor classification and the successful completion of eligibility requirements.

For instance, retail investors would continue to face significant restrictions. Namely, they would be permitted to purchase only the most liquid cryptocurrencies, with annual investments capped at 300,000 rubles. All transactions would be required to pass through a single approved intermediary, allowing regulators to maintain direct oversight of activity.

In contrast, professional investors would be subject to a more flexible regime. Notably, they would face no restrictions on transaction volumes. At the same time, the regulator’s proposal would prevent them from acquiring anonymous or privacy-focused cryptocurrencies.

Central Bank Reiterates Risk Warnings

Despite the proposed expansion, the Bank of Russia reiterated its long-standing concerns about cryptocurrencies. It continues to classify digital assets as high-risk, citing extreme price volatility, the lack of sovereign guarantees, and exposure to sanctions-related risks.

Consequently, the central bank emphasized that broader access would not equate to lighter regulation. While cryptocurrencies and stablecoins would be formally recognized as monetary assets and allowed to be bought and sold legally, their use for domestic payments within Russia would remain prohibited.

Regulated Infrastructure Remains Central

To maintain oversight, the Bank of Russia plans to confine crypto trading to existing licensed infrastructure. Therefore, transactions would continue to be conducted through regulated exchanges, brokers, and trustees.

Additionally, the regulator intends to introduce additional standards for specialized crypto depositories and exchange operators. These measures, in turn, aim to strengthen compliance requirements and prevent the emergence of unregulated markets.

Beyond cryptocurrencies, the proposal addresses digital financial assets and other forms of Russian digital rights, which could circulate on open networks.

According to the regulator, this approach is to improve transparency and attract foreign investment. It reflects a broader effort to integrate digital assets into Russia’s financial system under clear rules.

Notably, residents will also be able to purchase or transfer cryptocurrencies abroad through foreign accounts or Russian intermediaries. However, they must notify the tax authorities of such transactions.

Timeline for Legal Implementation

To advance the initiative, the Bank of Russia has submitted draft legislative amendments to the government, where they are currently under review.

Ultimately, the central bank aims to complete the full legal framework by July 1, 2026. Furthermore, liability for illegal activities by crypto intermediaries would be introduced one year later, taking effect on July 1, 2027.