Bitcoin Magazine
Russia Considers Simplified Licensing Path for Bank-Run Crypto Exchanges
Russia’s central bank is weighing a plan that would allow banks and brokerage firms to operate cryptocurrency exchanges through a simplified licensing pathway tied to their existing financial permits, according to remarks from Governor Elvira Nabiullina.
Under the proposal, financial institutions could obtain authorization to run crypto trading platforms through a “notification process,” rather than applying for a new standalone license.
The approach would allow firms that already hold banking or brokerage licenses to expand into digital asset services using their current regulatory status.
Back in January, Anatoly Aksakov, head of the State Duma Committee on the Financial Market, made comments that Russia was preparing to introduce its first comprehensive regulatory framework for cryptocurrencies like Bitcoin, with lawmakers aiming to finalize the draft for a parliamentary vote by the end of June.
Nabiullina presented the idea during a meeting between the central bank and Russian lending institutions, according to reports from the Interfax news agency.
The governor framed the proposal as an effort to integrate cryptocurrency activity into Russia’s existing financial infrastructure.
She argued that banks already maintain compliance systems designed to meet anti–money laundering and countering the financing of terrorism requirements, which could provide a foundation for supervising digital asset markets.
“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,” Nabiullina said, adding that the sector’s existing compliance frameworks could help protect customers entering the crypto market.
The central bank also outlined limits designed to manage financial risk during the early stages of integration.
Under the proposal, banks’ exposure to cryptocurrency activities would be capped at 1% of their capital.
Nabiullina said regulators plan to monitor how institutions operate within that threshold before considering any expansion.
“Let’s start by seeing how banks operate within the one percent cap, and then see whether we need to move forward,” she said.
The licensing proposal forms part of a broader effort by the Central Bank of Russia and the Ministry of Finance of the Russian Federation to establish a clearer legal framework for digital assets in the country.
In late 2025, the central bank submitted a regulatory concept to the Russian government that would formally recognize cryptocurrencies and stablecoins as currency assets that can be bought and sold through regulated intermediaries. The framework would allow trading through exchanges, brokers and trustees operating under existing financial licenses.
Crypto for domestic payments
At the same time, the proposal ma
