Russia's central bank proposes notice-based crypto exchange licensing and 1% risk cap for banks

Russia's central bank has proposed letting banks and brokerage firms run crypto exchanges via a simplified notification regime tied to their existing licenses. The draft framework would cap banks' exposure to digital assets at 1% of capital and classify cryptocurrencies and stablecoins as tradable currency assets while keeping them banned for domestic payments. Under the planned law, qualified investors would face no purchase limits, but non-qualified investors could buy up to 300,000 rubles annually through one intermediary, with the core rules expected to start applying on July 1, 2026.