Russia’s Central Bank Moves to Grant Crypto Exchange Licenses to Banks Via Notification

TLDR:

• Russia’s CBR wants banks to obtain crypto exchange licenses through a simple notification process using existing credentials. 
• Banks and brokers would act as crypto intermediaries, capped at one percent of capital to control early-stage market risk exposure. 
• Qualified investors face no crypto purchase limits, while non-qualified investors are capped at 300,000 rubles annually per intermediary. 
• Russia’s crypto regulation bill is set for State Duma submission in March, with passage expected before the spring session concludes.
  

Russia’s Central Bank has proposed allowing banks and brokers to obtain crypto exchange licenses through a simplified notification process.

CBR Governor Elvira Nabiullina announced the move at the annual meeting of lending institutions with the Central Bank.

Banks Set to Access Crypto Exchange Licenses Through Notification

The Central Bank of Russia is moving to ease access to crypto exchange licenses for banks and brokers. Governor Nabiullina explained that institutions could get these licenses through a notification process based on existing credentials.

This approach leverages the regulatory standing banks already hold in Russia’s financial system. The move brings established institutional experience into the emerging crypto market.

Nabiullina emphasized that banks already carry strong experience in anti-money laundering and countering terrorism financing. “We hope that your extensive banking experience in AML/CFT, as well as your experience in countering fraud, will help protect your clients in the crypto market once it is legalized,” she stated.

She added that the proposal allows banks and brokers to act as intermediaries using their current banking licenses. Their compliance systems are considered a key asset in managing crypto-related risks.

However, the Central Bank also wants to keep each institution’s exposure to the sector controlled. “We would still like to limit the level of risk a bank takes in this area to one percent of capital,” Nabiullina noted.

This limit is meant to prevent excessive risk during the early stage of market integration. The regulator plans to reassess the cap based on observed bank performance.

She further stated, “Let’s start by seeing how banks operate within the one percent cap, and then see whether we need to move forward.”

This measured rollout reflects the regulator’s preference for a gradual and supervised approach. Gathering performance data early will allow the Central Bank to make informed decisions going forward. The one percent ceiling provides room to start while managing systemic exposure.

Russia’s Crypto Regulatory Concept Advances Toward Legislation

In late December 2025, the Central Bank submitted a concept for crypto regulation to the Russian government. The concept classifies digital currencies and stablecoins as currency assets that can be bought and sold.

Transactions would run through existing infrastructure, including exchanges, brokers, and trustees. Separate requirements would apply only to dedicated depositories and crypto exchangers.

Under this framework, cryptocurrencies cannot be used for domestic payments inside Russia. The existing financial infrastructure would handle transactions, reducing the need for entirely new systems.

This approach keeps oversight within entities already regulated under Russian law. It allows the market to scale without building parallel oversight structures from scratch.

The concept draws a clear line between qualified and non-qualified investors. Qualified investors may acquire crypto assets without restrictions on annual purchase amounts.

Non-qualified investors are capped at 300,000 rubles per year through a single intermediary. This tiered access structure aims to protect retail participants from outsized financial exposure.

Deputy Finance Minister Ivan Chebeskov previously confirmed the bill is set for submission to the State Duma in March. Lawmakers are expected to pass the legislation during the spring session. Russia is, therefore, on a firm timeline to formalize its legal framework for digital assets.

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