Russia's Central Bank establishes rules allowing margin trading of cryptocurrencies for qualified and non-qualified investors, with limits on non-qualified accounts to be determined.
Regulation & Gov ·
Russia's Central Bank has established regulatory rules permitting margin trading in cryptocurrencies and digital assets, with brokers now able to accept crypto and digital rights as collateral for leveraged positions. Both qualified and non-qualified investors may engage in margin transactions, though the regulator will impose limits on cryptocurrency operations for non-qualified accounts—the specific thresholds remain to be set.
The framework also expands how brokers calculate risk-coverage ratios used to monitor leveraged trades. These ratios, which establish the buffer protecting an investor's portfolio, previously applied only to securities, precious metals, currency, and futures or options. Cryptocurrencies and digital rights now fall under the same calculation methodology, defining the bounds within which brokers can execute client trades using borrowed funds and the thresholds beyond which forced position closure occurs to cap investor losses.
The Central Bank has released a draft directive for regulatory impact assessment, meaning the rules are not yet final. The exact operational limits for non-qualified investors and the timing of implementation remain open.