The Bank of Russia has drafted rules capping crypto holdings at 25% of total equity for regulated market participants. Brokers, trustees, forex dealers, and crypto exchanges must also register their holdings with crypto depositories so the state can verify they exist.
The Bank of Russia has issued a draft ordinance capping cryptocurrency holdings at 25% of total declared equity for professional market participants. The rule applies to brokers, trustees, forex dealers, and cryptocurrency exchanges once their crypto assets are admitted to trading on exchanges.
Registration requirement adds oversight
To count toward equity calculations, holdings must first be registered with crypto depositories, a step that lets the state verify the assets actually exist. The central bank said the ratio will be observed to assess credit and market risks and to confirm firms can cover potential losses. According to the bank: "the ratios will factor in cryptocurrency-related risks", ensuring intermediaries stay financially resilient in crypto transactions.
Part of a broader legalization push
The draft follows the State Duma's approval of comprehensive cryptocurrency regulation, which lets qualified and non-qualified investors trade cryptocurrencies in Russia. Non-qualified investors, however, remain limited to buying up to 300,000 rubles, about $3,800, per year. Together, the two measures extend legal crypto activity for both investor types.
The equity cap is seen as part of that same legalization drive, giving users a way to gauge the solidity of regulated market participants based on their crypto holdings. At the same time, it opens a deeper state oversight era, increasing vigilance over operators' internal crypto dealings while keeping crypto assets' role in the broader Russian economy limited.
Domestic payments still banned
Even so, cryptocurrencies remain barred as an internal payment method in Russia. Exporters and importers, though, can still use crypto in cross-border settlements without limitations, letting them lean on stablecoins and other digital assets to legally sidestep secondary sanctions risk.
Source: Bank of Russia
Trading involves risk.
Risk Disclaimer
