Russia is taking a bolder step in its regulation of cryptocurrencies, announcing new policies that grant access to specialized investors. The Bank of Russia has cleared the way for financial institutions to offer cryptocurrency-linked derivatives to qualified investors only. This policy represents a departure from the central bank’s previous cautious approach toward digital assets and seeks to strike a balance between market accessibility and financial stability.
The move is seen as a significant development as prominent banks like T-Bank and Sberbank have already aligned their operations to offer crypto investment products based on non-deliverable derivatives, which exclude direct cryptocurrency ownership. This change has also sparked notable activity in the Russian financial markets with an increase of 51% in crypto asset inflows and surging trading volumes.
This three-year pilot program for regulated crypto involvement will focus on institutional safeguards to mitigate volatility risks while aiming to foster market development and establish clearer regulatory guidelines for digital assets within traditional financial systems.