Overview

• First Deputy Governor Vladimir Chistyukhin announced the decision at the Finopolis forum, confirming elevated reserve requirements alongside the roughly 1% capital exposure limit.
• Only a limited cohort of commercial banks will participate, with the central bank insisting crypto activity remain peripheral to core banking operations.
• Participating institutions must apply full anti–money laundering controls, including mandatory client identification and complete transaction transparency.
• The step extends an early‑2025 regime that lets qualified firms and wealthy individuals use crypto for cross‑border settlements, with thresholds around 100 million rubles in assets and 50 million rubles in annual income.
• Policymakers are pressing for comprehensive legislation by 2026 and plan to survey crypto investment and lending early next year, as usage rises to an estimated 20 million Russians and the A7A5 ruble stablecoin grows to about $500 million in market value.