Russia’s central bank will allow financial institutions to offer crypto-linked investment products to qualified investors. These products include derivatives and tokenized securities reflecting crypto price movements. Investors can only speculate on prices, not hold digital assets. The bank stresses the importance of a conservative risk assessment framework to protect financial stability. The policy shift follows a significant increase in domestic crypto activity, with transaction volumes in Russia rising by more than 51% in late 2024 and early 2025. Russian users traded 7.3 trillion rubles worth of crypto across major exchanges. The surge is attributed to growing global confidence in digital assets, driven by the US’s pro-crypto initiatives under President Donald Trump. However, increased regulation, especially around stablecoins, could raise compliance risks for Russian firms.
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