Russia’s Central Bank Grants Selective Crypto Access to Banks

Russia's Central Bank (CBR) is cautiously opening doors to digital assets, allowing a handpicked group of commercial banks to engage in crypto-related services. This marks a notable policy shift amid rising crypto activity in the country. The move aims to balance innovation with financial stability, restricting operations to secondary roles within banks to mitigate systemic risks.

Eligible institutions must demonstrate robust risk management capabilities for operational, legal, and financial exposures. Permitted activities will likely include digital asset custody, institutional investment products, and regulated settlements—not retail crypto trading or speculative dealings. The CBR is collaborating with financial stakeholders to develop a tailored regulatory framework.