Russia Opens Doors to Crypto Derivatives Access for Select Investors

The Russia central bank has cleared the way for limited access to crypto-linked financial products, allowing qualified investors to trade derivatives tied to digital assets under strict conditions.

In a statement released Wednesday, the Bank of Russia said financial institutions may offer derivative instruments, securities and digital financial assets that reference cryptocurrency prices.

However, these products must be non-deliverable, meaning they cannot be settled in actual crypto, and will only be available to a restricted class of investors.

THIS COULD BE HUGE!!!

Russia just greenlit crypto exposure — sort of.

The central bank will allow financial institutions to offer crypto-linked securities and derivatives to qualified investors — but no actual crypto delivery allowed.

Still no love for direct BTC buys, but the… pic.twitter.com/grJ6zFhleF

— Kyle Chassé / DD🐸 (@kyle_chasse) May 29, 2025

Bank of Russia Cautions Institutions as It Eases Into Crypto

The central bank urged a conservative approach to risk. Credit institutions are expected to fully cover these instruments with capital and enforce individual exposure limits. The Bank of Russia also plans to formalize regulations over the next year to better manage risks associated with crypto price volatility.

Despite this cautious move, the regulator has maintained its longstanding warning against direct crypto investments. Meanwhile, the government is reviewing new proposals. These would create a limited testing regime. Under this framework, only certain investor groups would be allowed to conduct crypto transactions within a strictly regulated environment.

Russia Lays Foundations for State-Controlled Crypto Exchange

This regulatory shift builds on broader efforts to bring digital assets into Russia’s legal framework. In April, the Finance Ministry and central bank began laying groundwork for a state-run crypto exchange. Finance Minister Anton Siluanov said the exchange would help legitimize crypto and steer digital transactions into a controlled setting.

The new platform, operating under Russia’s experimental legal regime for financial innovation, will serve only “super-qualified” investors. It will not support retail trading but will allow vetted market participants to transact in crypto under close supervision.

Russia’s push to establish domestic crypto infrastructure follows recent disruptions. In March, the freezing of stablecoin wallets tied to Russian users exposed vulnerabilities tied to foreign-issued tokens. In response, officials have proposed developing a national stablecoin to enhance financial independence and ensure continued access to digital payments.