Russia: Crypto cannot exceed 25% at brokers

The Bank of Russia wants to limit the role of crypto in market professionals’ accounts. Its new draft regulation sets a 25% threshold for digital assets considered in the calculation of their equity. Brokers, managers, forex dealers, and crypto exchange platforms are concerned. Moscow thus allows crypto more, without giving it too much space in intermediaries’ balance sheets.

In Brief

Crypto Enters Brokers’ Accounts

The Bank of Russia published its draft on August 14. It comes a few days after the opening of the Russian market to bitcoin, ether, and USDT. This time, the text targets professionals directly. Brokers will be able to include certain cryptocurrencies in the calculation of their equity. The same applies to securities managers, forex dealers, and companies trading digital assets.

Not just any crypto, however. Assets must have been admitted for trading on a Russian organized market. They must also appear in the accounts of a recognized crypto custodian.