Key Takeaways
- The Central Bank of Russia is moving to permit limited crypto activity among banks.
- Strict capital reserve requirements will remain to manage risk, even as banks engage more with cryptocurrencies.
Russia’s central bank is preparing to permit banks to engage in crypto operations under tight regulatory oversight.
The monetary authority is exploring a regulated framework for banks handling crypto under strict capital and reserve requirements. The move represents a departure from Russia’s previously cautious stance on crypto regulation.
Moscow Exchange is pushing for the legalization of retail Bitcoin trading, signaling broader institutional pressure on the central bank to adapt to evolving global crypto trends.
The regulatory changes would allow qualified participants to engage in crypto investments under controlled conditions, as Russian institutions increasingly view Bitcoin as a hedge against traditional currency risks.
Source: https://cryptobriefing.com/russia-central-bank-bitcoin-regulation-easing-2024/
