Russia Considers Simplified Licensing Path for Bank-Run Crypto Exchanges

Bitcoin Magazine

Russia Considers Simplified Licensing Path for Bank-Run Crypto Exchanges

Russia’s central bank is weighing a plan that would allow banks and brokerage firms to operate cryptocurrency exchanges through a simplified licensing pathway tied to their existing financial permits, according to remarks from Governor Elvira Nabiullina.

Under the proposal, financial institutions could obtain authorization to run crypto trading platforms through a “notification process,” rather than applying for a new standalone license. 

The approach would allow firms that already hold banking or brokerage licenses to expand into digital asset services using their current regulatory status.

Back in January, Anatoly Aksakov, head of the State Duma Committee on the Financial Market, made comments that Russia was preparing to introduce its first comprehensive regulatory framework for cryptocurrencies like Bitcoin, with lawmakers aiming to finalize the draft for a parliamentary vote by the end of June.

Nabiullina presented the idea during a meeting between the central bank and Russian lending institutions, according to reports from the Interfax news agency.

The governor framed the proposal as an effort to integrate cryptocurrency activity into Russia’s existing financial infrastructure. 

She argued that banks already maintain compliance systems designed to meet anti–money laundering and countering the financing of terrorism requirements, which could provide a foundation for supervising digital asset markets.

“We have proposed allowing banks and brokers to obtain crypto exchange licenses through a notification process and to act as intermediaries based on their current banking licenses,” Nabiullina said, adding that the sector’s existing compliance frameworks could help protect customers entering the crypto market.

The central bank also outlined limits designed to manage financial risk during the early stages of integration. 

Under the proposal, banks’ exposure to cryptocurrency activities would be capped at 1% of their capital.

Nabiullina said regulators plan to monitor how institutions operate within that threshold before considering any expansion.

“Let’s start by seeing how banks operate within the one percent cap, and then see whether we need to move forward,” she said.

The licensing proposal forms part of a broader effort by the Central Bank of Russia and the Ministry of Finance of the Russian Federation to establish a clearer legal framework for digital assets in the country.

In late 2025, the central bank submitted a regulatory concept to the Russian government that would formally recognize cryptocurrencies and stablecoins as currency assets that can be bought and sold through regulated intermediaries. The framework would allow trading through exchanges, brokers and trustees operating under existing financial licenses.

Crypto for domestic payments 

At the same time, the proposal maintains a strict ban on the use of cryptocurrencies for domestic payments, a position the central bank has held for years. Digital assets would function as investment instruments rather than alternatives to the national currency.

Draft legislation reflecting the concept is expected to reach the State Duma during the spring legislative session. Deputy Finance Minister Ivan Chebeskov has indicated that lawmakers could review the bill as early as March, with the main regulatory framework scheduled to take effect on July 1, 2026.

The proposed rules would also introduce a tiered system governing who can access crypto markets.

Qualified investors would face no limits on purchases. Non-qualified investors would be restricted to buying up to 300,000 rubles, or roughly $3,800, in crypto assets each year through a single intermediary.

Russia updated the definition of “qualified investor” last year. Individuals may now qualify based on several criteria, including a master’s degree in finance, annual income of at least 20 million rubles, or meeting property ownership thresholds set by regulators.

Those wealth requirements are scheduled to rise in 2026, when the property threshold increases from 12 million rubles to 24 million rubles.

This post Russia Considers Simplified Licensing Path for Bank-Run Crypto Exchanges first appeared on Bitcoin Magazine and is written by Micah Zimmerman.