Russia’s central bank to allow limited crypto activity by banks
The Bank of Russia will allow domestic banks to engage in limited cryptocurrency operations under stringent oversight, marking a controlled step toward crypto integration in the country’s financial system.
First Deputy Chairman Vladimir Chistyukhin announced the move at the Finopolis fintech forum, noting that while the central bank remains conservative on decentralized assets like Bitcoin, it recognizes the need to align with market realities.
Chistyukhin stated that the Bank of Russia will impose strict requirements on participating institutions to ensure crypto does not become a dominant banking activity. A draft framework would reportedly cap crypto exposure at 1% of a bank’s capital, paired with high reserve thresholds…
