Bank of Russia Moves to Ease Crypto Regulations for Broader Investor Inclusion

The Bank of Russia, in collaboration with the Ministry of Finance, is actively discussing plans to relax stringent cryptocurrency regulations that currently restrict access to a narrow group of "highly qualified" investors. First Deputy Chairman Vladimir Chistyukhin confirmed the central bank's openness to easing these rules, marking a significant policy shift from its previous cautious stance.

This development follows earlier statements by Deputy Finance Minister Ivan Chebeskov, who revealed that authorities are exploring modifications to the regulatory framework. Chistyukhin noted, "Our colleagues from the finance ministry correctly stated that we are discussing the feasibility of using [the term] 'highly qualified' in the new crypto regulation," and added that it is "quite possible" to relax restrictions for a wider group of investors.

Historically, cryptocurrency transactions in Russia have been limited to investors with substantial wealth—requiring at least 100 million rubles in investments and an annual income exceeding 50 million rubles. However, the Bank of Russia acknowledges that household investments in crypto derivatives remain relatively low, at around $47 million, and do not pose a systemic risk.

In March 2023, Russia proposed an "experimental legal regime" to allow businesses to use digital currencies for cross-border transactions. Recent actions include permitting commercial banks to handle digital assets in October and urging lawmakers to adopt comprehensive crypto legislation outside the experimental framework. Chistyukhin emphasized that crypto assets could soon be treated as "normal instruments" in the financial system, with further clarity expected by the end of 2025.