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Russia Proposes Bank-Led Crypto Exchange Licensing Framework
Russia Proposes Bank-Led Crypto Exchange Licensing Framework
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BTCCSquare news:
The Central Bank of Russia has pivoted from its historically hostile stance toward digital assets, proposing a licensing regime that would allow traditional financial institutions to operate cryptocurrency exchanges. Governor Elvira Nabiullina framed the move as a consumer protection measure, leveraging banks' existing anti-money laundering infrastructure to sanitize the crypto market.
The notification-based licensing system would enable banks and brokerages to add crypto services to existing offerings without separate approvals—a significant departure from earlier threats of blanket bans. This regulatory softening comes as global institutions increasingly recognize cryptocurrency's irreversible foothold in modern finance.
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