Russia Grants Banks Permission for Crypto Activities Under Strict Regulations

The Russian Central Bank has granted select commercial banks the ability to conduct cryptocurrency activities, but only under strict regulations. The decision was announced by First Deputy Chairman Vladimir Chistyukhin during the Finopolis fintech forum. This move could impact major cryptocurrencies like Bitcoin as well as altcoins, while aiming to maintain market stability amidst ongoing global crypto adoption. 📚 Banks must comply with stringent capital and reserve requirements before engaging in such activities. This new policy may lead to increased activity and tighter regulatory oversight of the crypto market.