13-3-2025 – Russia’s Central Bank has unveiled an experimental framework for cryptocurrency trading, marking a carefully measured departure from its previous stringent stance on digital assets.
The proposed three-year pilot scheme, now awaiting governmental review, would exclusively cater to an elite cadre of investors. These privileged participants must demonstrate either substantial financial holdings of over 100 million roubles in stocks and deposits, or verify an annual income exceeding 50 million roubles. Corporate entities meeting statutory qualifications would likewise be permitted to engage in the programme.
Whilst maintaining its fundamental position that cryptocurrencies cannot serve as legal tender, the banking authority aims to forge a more transparent digital asset marketplace. The initiative seeks to establish robust service standards whilst broadening investment horizons for sophisticated traders prepared to navigate heightened risk landscapes.
This calculated revision of policy presents a striking contrast to the 2022 legislation, wherein President Putin categorically prohibited cryptocurrency payments. The banking authority has emphasised that stringent oversight shall remain, with punitive measures planned for any transactions occurring outside the sanctioned framework.
The timing of this regulatory evolution appears particularly significant against the backdrop of international sanctions. Financial analysts have noted Russia’s growing interest in cryptocurrency infrastructure, with Chainalysis documenting the central bank’s efforts to potentially leverage digital assets for cross-border trade, particularly in response to Western economic restrictions stemming from the Ukrainian conflict.
Industry observers suggest this experimental approach could herald a broader acceptance of cryptocurrencies within Russian financial markets, albeit under strictly controlled conditions. The central bank has indicated it shall implement comprehensive regulatory requirements for financial institutions seeking to participate in this pioneering venture.