Russia Cracks The Door To Bitcoin For Retail Investors

The Bank of Russia has set out a new framework to regulate cryptocurrencies, proposing tiered access that would allow everyday investors to buy digital assets alongside professional market participants, while maintaining tight controls on risk and usage.

In a concept paper released Tuesday and submitted to the government for review, the central bank said both qualified and non-qualified investors would be permitted to acquire crypto assets, but under different rules, limits and testing requirements. 

The move marks another step in Russia’s gradual shift toward accommodating digital assets as sanctions reshape financial flows and market infrastructure.

Earlier this year, the Bank of Russia moved to allow domestic banks to conduct limited crypto operations under strict oversight. First Deputy Chairman Vladimir Chistyukhin said the central bank, while maintaining a conservative stance on assets like bitcoin, no longer sees a justification for fully excluding banks from such activity. 

It was also reported that Russia was using bitcoin to settle some oil trades with China and India, routing payments through intermediaries to bypass Western sanctions. 

So with that said, the current proposal maintains the central bank’s long-standing caution toward cryptocurrencies, which it continues to classify as high-risk instruments. 

The Bank of Russia warned that crypto assets are not issued or guaranteed by any jurisdiction, are subject to sharp price swings, and carry elevated sanctions and operational risks. Investors, it said, must fully accept the possibility of losing their funds.