Central Bank of Russia proposes to allow banks, brokers to obtain crypto exchange licenses via notification - CBR Governor Nabiullina
MOSCOW. March 5 (Interfax) - The Central Bank of Russia has proposed to allow banks and brokers to obtain crypto exchange licenses via a notification process, as based on their current licenses, CBR Governor Elvira Nabiullina said at the annual meeting of lending institutions with the Central Bank.
"We hope that your extensive banking experience in AML/CFT [anti-money laundering and countering the financing of terrorism], as well as your experience in countering fraud, will help protect your clients in the crypto market once it is legalized. Therefore, we have proposed allowing banks and brokers to obtain crypto exchange licenses through a notification process and to act as intermediaries based on their current banking licenses, given that your system is built specifically for AML/CFT," Nabiullina said.
"However, we would still like to limit the level of risk a bank takes in this area to one percent of capital. Let's start by seeing how banks operate within the one percent cap, and then see whether we need to move forward," she added.
In late December 2025, the Central Bank announced that it had submitted a concept for regulating cryptocurrencies in Russia to the government. The concept envisages that digital currencies and stablecoin be recognized as currency assets that can be bought and sold, though cannot be used for domestic payments. Cryptocurrency transactions would be possible through the existing infrastructure, with exchanges, brokers, and trustees able to operate under existing licenses. Separate requirements would be established only for specialized depositories and crypto exchangers.
According to the concept, qualified investors may acquire crypto assets without restrictions, while non-qualified investors are limited to purchasing up to 300,000 rubles per year through a single intermediary. The bill should be submitted to the State Duma in March and adopted during the spring session, Deputy Finance Minister Ivan Chebeskov previously said.
