Bitcoin Magazine VTB Pushes to Open Russia’s First Bank-Run Bitcoin Trading Desk as Kremlin Moves to Classify Mining as an Export Russia’s second-largest lender, VTB, is positioning itself to become the first major bank in the country to let customers trade bitcoin and crypto directly. Andrey Yatskov, head of VTB’s brokerage arm, told Russian outlet RBC that client demand for “real” crypto — not just derivative products — is rising sharply. “As we see it, real cryptocurrency will be available for purchase via our brokerage accounts,” he said, according to DLNews reporting. The move comes despite the fact that crypto trading remains unregulated in Russia. For now, banks can only offer crypto-linked derivatives, a permission granted earlier this year to VTB, rival Sberbank, and the Moscow Exchange. But momentum in Moscow has turned. After years of pushing for a full ban, the central bank has recently signaled it is ready to regulate crypto instead, reflecting mounting pressure from lawmakers, ministries, and businesses eager for a legal framework — and tax revenue. VTB plans to test its trading platform with “super-qualified clients,” those holding over $1.3 million in assets or earning more than $649,000 a year. The bank expects broader permission as regulators ease restrictions, a shift the central bank’s first deputy governor called a “strategic response to sanctions regimes.” Commercial banks now see themselves playing a central role in a future market of licensed crypto brokers and depositories. Yatskov said clear rules would “definitely boost” transparency and confirmed VTB intends to participate once regulations are finalized. JUST IN: Russia’s second-largest bank, VTB, set to launch #Bitcoin & crypto trading in 2026.Russia is coming pic.twitter.com/oCHVOYCVEd— Bitcoin Magazine (@BitcoinMagazine) December 4, 2025 Crypto is already finding new footholds in Russia, from cross-border payments to a rapidly expanding industrial mining sector. With the tide turning, VTB aims to launch full crypto trading services as early as 2026. Earlier this year, the Bank of Russia reportedly started allowing domestic banks to conduct limited crypto operations under tight regulatory oversight. “We hold conservative views and think about how appropriate it is for the banking sector to include cryptocurrency in its assets,” First Deputy Chairman Vladimir Chistyukhin said at the time. Kremlin adviser pushes to classify crypto mining as an export in Russia’s trade accounts In the meantime, a senior Kremlin official is saying that Russia should treat crypto mining as a formal export sector, arguing that large volumes of mined Bitcoin effectively leave the country’s economy even without crossing a physical border. Speaking at the ‘Russia Calling!’ investment forum, Maxim Oreshkin — Deputy Chief of Staff to President Vladimir Putin — said crypto flows are in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. 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VTB Aims to Launch Russia’s First Bank-Operated Bitcoin Trading Desk as the Kremlin Seeks to Designate Mining as an Export.
