Russia is preparing to relax strict regulations on cryptocurrency as the Ministry of Finance and the Central Bank signal a policy change. The two agencies are considering removing the regulation that only allows a small group of “professional investors” to trade crypto. According to senior officials, expanding access to digital assets for the public is now “entirely feasible,” especially in the context of sanctions that severely restrict Russia's international payment capabilities through traditional financial channels.
This move indicates a significant change. Previously, the Central Bank implemented a legal framework for testing that allows businesses to use crypto in cross-border transactions and for a group of high-end investors to trade digital assets. However, the standards were too high, making it difficult for most people to access. Currently, the regulatory agency wants to expand access, allowing banks to operate digital assets and promote a comprehensive legal framework for the developing crypto market.
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