Russia is expanding regulated crypto access through banks and exchanges under a new market framework.
Regulation & Gov ·
Russia is expanding access to cryptocurrency through banks, exchanges, and other regulated financial institutions under a newly established market framework. The expansion reflects a shift toward integrating digital assets into the country's formal financial system rather than maintaining restrictions on retail participation.
The framework aims to bring crypto trading and custody into the regulated financial sector, allowing licensed banks and exchanges to offer services to clients. Russia's Central Bank expects the supporting legislation to be finalized by the end of 2024, with approximately 27 regulatory acts anticipated by October as part of the implementation roadmap.
Key details about the specific mechanics of asset custody, transaction limits, and which institution types will receive licenses first remain unclear. The timeline for full rollout and whether retail access will be immediate or phased also has not been detailed in available reports.