Russia’s Central Bank Plans Limited Crypto Trading for Select Investors

After receiving multiple financial sanctions from so many countries Russia is taking a step toward regulated cryptocurrency investments, but only for select investors. The country’s central bank has proposed a three-year trial, letting a small group buy and sell Bitcoin. While this is a big step, Russia is still careful about fully accepting crypto.

Russia’s New Crypto Proposal

The Russian Central Bank has proposed a three-year trial to allow a small group of investors to trade crypto. This plan is part of the government’s effort to regulate digital assets while keeping regular investors out of the risky market. 

Only experienced investors with at least $1.1 million in securities and deposits would be allowed to participate. 

The central bank made it clear that this is not full crypto adoption. It is just a test to see how crypto can work in Russia’s financial system. This move is also part of President Putin’s plan to shape the country’s approach to digital assets.

No Crypto Payments for Residents

Despite this step, the Bank of Russia still bans crypto payments for daily use. Since 2021, Bitcoin and other digital currencies have been restricted under the “On Digital Financial Assets” law. The new proposal confirms that crypto can only be used for investment, not payments.

However, Russia is open to using crypto for international trade, especially after Western sanctions.

Expanding Crypto Use in Russia

While retail crypto payments are banned, Russia has been exploring cryptocurrency use in foreign trade. Since 2022, the central bank has been open to cross-border settlements in crypto, allowing businesses to conduct international transactions using digital assets. 

In December 2024, Russian Finance Minister Anton Siluanov confirmed that the country had been actively testing crypto in foreign trade under an experimental legal framework introduced in September 2024.

A Russian Version of MicroStrategy?

Interestingly, the proposal also hints at allowing qualified companies to invest in crypto. Meanwhile, the Bank of Russia believes that a controlled crypto investment framework will bring more transparency to the local market. 

This could allow Russian firms to follow Michael Saylor’s MicroStrategy, which has accumulated large amounts of Bitcoin. Companies like Tesla and Metaplanet have done the same, showing a rising trend in corporate Bitcoin investments.