Russia Considers Simplified Licensing Path for Bank-Run Crypto Exchanges

Russia's central bank, led by Governor Elvira Nabiullina, is proposing a simplified licensing pathway for banks and brokerage firms to operate cryptocurrency exchanges through a "notification process" tied to their existing financial permits. Nabiullina argued this approach integrates crypto activity into the existing financial infrastructure, leveraging banks' current compliance systems for AML/CFT requirements. To manage initial risk, the proposal caps banks' crypto exposure at 1% of their capital, with regulators monitoring this threshold before considering expansion. This is part of a broader effort to establish a clear legal framework for digital assets, which will recognize crypto as investment instruments, strictly banning their use for domestic payments. Draft legislation is expected to reach the State Duma soon, with the main regulatory framework potentially taking effect on July 1, 2026, and will include tiered access limits for qualified versus non-qualified investors.

(Source：Bitcoin Magazine)