Moscow Accelerates Domestic Crypto Infrastructure to Bolster Russia’s Digital Economy in 2025

• Why Is Russia Building Its Own Crypto Infrastructure?
• How Does the Central Bank Fit Into This Plan?
• Who Gets to Participate in Russia’s Crypto Market?
• What’s Next for Crypto in Russia?
• FAQs

Russia is doubling down on its crypto ambitions, with Moscow spearheading efforts to build a homegrown infrastructure for cryptocurrency transactions, mining, and related activities. Deputy Finance Minister Ivan Chebeskov revealed at a recent fintech forum that the government is working closely with the Central Bank of Russia (CBR) to fast-track this initiative. While the CBR remains cautious about decentralized cryptocurrencies like Bitcoin, the Ministry of Finance is pushing for broader access to crypto assets, especially for cross-border trade. Meanwhile, Russian investors are already diving into crypto derivatives, with major players like Sber and the Moscow Exchange joining the fray. Despite regulatory hurdles, Russians hold over $25 billion in crypto—proof that demand isn’t slowing down anytime soon.

Why Is Russia Building Its Own Crypto Infrastructure?

Deputy Finance Minister Ivan Chebeskov didn’t mince words at Moscow’s "Digital Finance: New Economic Reality" forum: "The market is telling us we need infrastructure—our own infrastructure, for mining and everything crypto-related." This isn’t just talk. The government has already started developing frameworks to support crypto transactions under an "experimental legal regime" (ELR) announced earlier this year. The goal? To reduce reliance on foreign systems and create a controlled environment where crypto can fuel Russia’s economy without destabilizing it. Think of it as a sandbox—but one where only approved players get to play.

How Does the Central Bank Fit Into This Plan?

Here’s where things get tricky. While the Finance Ministry is all in on crypto, the CBR has been the cautious parent in the room. It refuses to recognize bitcoin as legal tender outside the ELR but has greenlit crypto derivatives for high-net-worth investors. In May 2025, the bank set strict criteria: only individuals with 100 million rubles ($1.2M+) in assets or 50 million rubles ($600K+) in annual income can trade these instruments. Yet, in a surprising twist, the CBR recently hinted that investment funds might get crypto exposure by 2026—a move that could level the playing field between brokers and asset managers.

Who Gets to Participate in Russia’s Crypto Market?

Right now, it’s a VIP club. The ELR allows exporters, importers, and "superqual" investors (Russia’s term for accredited players) to dabble in crypto for cross-border deals. But the Finance Ministry wants to expand access by relaxing eligibility rules. Imagine a scenario where more Russians can legally buy and trade crypto—something that’s currently a gray area. Meanwhile, platforms like BTCC and Sber are already offering crypto-linked products, capitalizing on pent-up demand. The question is: Will the CBR loosen its grip, or keep the gates locked?

What’s Next for Crypto in Russia?

Two words: controlled growth. The government isn’t embracing wild-west decentralization; it’s building a state-supervised ecosystem. Mining regulations are in place, derivatives are live, and infrastructure is underway. But ordinary Russians still face hurdles—officially, at least. Unofficially? They’re holding $25 billion in crypto, per a June 2025 estimate. Whether regulators like it or not, the cat’s out of the bag. The real challenge will be balancing innovation with control—a tightrope walk that could define Russia’s financial future.

FAQs

What is Russia’s "experimental legal regime" for crypto?

The ELR is a regulatory sandbox allowing limited crypto use in cross-border trade and investments. Only approved businesses and wealthy individuals can participate.

Can ordinary Russians legally invest in crypto?

Not easily. Current rules restrict crypto derivatives to high-net-worth investors, though the Finance Ministry is pushing for broader access.

How much crypto do Russians hold?

Estimates suggest over $25 billion in crypto wallets, despite government warnings about risks.

Which Russian companies offer crypto products?

Sber, Moscow Exchange, and BTCC are among the key players providing crypto-linked financial instruments.