Russia Crypto Regulation Pushes Ahead With Major Banks in Consultation

Key Insights

• Russia crypto regulation: The Bank of Russia is holding consultations with major banks, brokers, depositories, and other financial firms over access to the regulated crypto market.
• Regulation remains in the implementation stage, with formal applications still pending until additional regulatory acts are adopted and take effect.
• The framework allows regulated crypto activity and cross-border payments while keeping domestic cryptocurrency payments prohibited.

Russia crypto regulation entered a new implementation phase on Sep. 21, 2026, after Bank of Russia First Deputy Governor Vladimir Chistyukhin said the regulator was holding informal consultations with major banks, brokers and other financial firms over access to the regulated crypto market.

Chistyukhin made the comments at the Moscow Financial Forum, according to a TASS report carried by Rambler.

Chistyukhin said the Bank of Russia is also speaking with depositories, trading organizers and non-financial companies involved in cryptocurrency exchanges.

No formal applications have been submitted so far, he said, because several first-line regulatory acts still need to be adopted, published and enter into force.

Russia Crypto Regulation Moves From Law to Market Access