Bank of Russia Proposes Limited Crypto Trading for Select Investors

The Bank of Russia has put forward a new proposal that could mark a significant shift in the country’s approach to cryptocurrency regulation.

Earlier today, the central bank announced that it has submitted a proposal to the Russian government to discuss allowing a limited group of investors to buy and sell cryptocurrencies such as Bitcoin.

The proposal suggests implementing a three-year experimental regime where only qualified investors with at least $1.1 million in securities and deposits would be permitted to engage in crypto trading.

This move is part of ongoing efforts to define Russia’s digital currency policies, which have historically shifted between strict regulations and cautious acceptance. Despite considering this controlled legalization for select investors, the Bank of Russia maintains its stance against using cryptocurrency as a payment method.

The institution has also recommended introducing penalties for those who violate the terms of the experimental regime, reinforcing its controlled approach toward digital currency adoption.

Russia Central Bank Moves Towards Regulatory Framework for Crypto

Qualified investors can conduct spot & derivative transactions as part of 3 year experimental regime. pic.twitter.com/WzHD00QxGR

— matthew sigel, recovering CFA (@matthew_sigel) March 12, 2025

Russia’s Complex Relationship with Cryptocurrency

Russia’s stance on cryptocurrency has evolved significantly over the years, reflecting a balance between regulatory concerns and strategic interests.

In 2021, the country enacted its first crypto law, “On Digital Financial Assets,” which formally banned the use of Bitcoin and other digital currencies for payments. However, the law allowed licensed entities to issue digital financial assets (DFAs) under strict regulations.

The geopolitical landscape further influenced Russia’s approach to digital assets. In 2022, following economic sanctions and SWIFT restrictions, the government explored the use of cryptocurrencies for international trade to circumvent traditional banking limitations.

While domestic use of Bitcoin for transactions remained prohibited, authorities saw potential in leveraging digital currency for cross-border payments.

The latest proposal by the Bank of Russia represents a new step in regulating digital assets, as it marks the first structured framework allowing select investors to legally trade digital currencies within a controlled environment.

What Comes Next for Russia’s Digital Currency Policy?

While the Bank of Russia’s proposal suggests a more structured approach to crypto regulation, it remains unclear whether this initiative will lead to broader adoption in the future.

The central bank remains cautious about widespread retail crypto use, emphasizing the risks associated with digital assets and the need for strict oversight.

By restricting access to only wealthy and institutional investors, Russia could be aiming to mitigate potential financial risks while still allowing controlled participation in the market.

The proposal is now under discussion within the Russian government, and further clarifications on its implementation timeline are expected. If approved, the experimental regime could pave the way for more refined regulations in the future, potentially shaping Russia’s long-term stance on digital assets.

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