Catenaa, Tuesday, June 03, 2025-Russia central bank has authorized domestic financial institutions to offer cryptocurrency-linked derivatives, securities and digital financial assets to qualified investors, marking a cautious but notable shift in the country’s crypto policy.
The decision was announced Wednesday in a bid to modernize Russia’s investment framework while maintaining regulatory safeguards.
Under the new guidelines, offerings must be “non-deliverable,” meaning investors can speculate on cryptocurrency prices without holding the underlying digital assets.
The Bank of Russia stressed the need for a conservative approach, urging institutions to fully cover these instruments with capital and establish specific exposure limits. Additional risk guidance will follow later this year.
Sberbank, Russia’s largest state-run lender, confirmed plans to roll out structured bonds with returns tied to crypto performance. The Moscow Exchange is preparing to launch a cash-settled Bitcoin futures product in June, while SPB Exchange outlined a separate roadmap for crypto-linked futures trading, local reports said.
The regulatory shift follows the Bank of Russia’s earlier proposal for a limited crypto pilot program and the joint development with the Finance Ministry of a crypto exchange restricted to highly qualified investors. These efforts aim to gradually integrate crypto instruments into the financial sector without exposing retail investors to undue risks.
Despite ongoing geopolitical and economic headwinds, the move signals Russia’s intent to expand its digital finance landscape while maintaining strict oversight and institutional control.
