The Central Bank will introduce regulations for banks on cryptocurrencies
The Central Bank will introduce new regulations for banks to reduce their risks when investing in cryptocurrencies and foreign digital assets, as well as when selling products to customers whose payments are tied to the value of digital currencies. The relevant draft was published by the regulator.
The Central Bank will introduce new regulations for banks to reduce their risks when investing in cryptocurrencies and foreign digital assets, as well as when selling products to customers whose payments are tied to the value of digital currencies. The relevant draft was published by the regulator.
The Central Bank will introduce two standards for the maximum amount of risk: H31 at the level of a particular bank and H32 for the entire banking group. The limit value for each is set at 1% of the capital of the credit institution. The risk indicator takes into account the bank’s own position and the client’s position on which the organization assumes sanctions risks. For assets with low risk of blocking, the Central Bank provides for the possibility of offsetting long and short positions.
The new rules may come into force in October-December 2026. Turnovers on digital instruments and calculation of standards H31 and H32 banks will display in their statements from January 1, 2027. The Central Bank is still working on detailed reporting forms.
The Bank of Russia has included cryptocurrencies in the list of risks for the financial market, as they can be used instead of the national currency. At the same time, digital assets are anonymous, decentralized and extraterritorial, which creates the risk of their use for illegal purposes or loss of invested money. However, the Central Bank’s rules for the circulation of digital assets should reduce risks. Russia also has a law on the regulation of cryptocurrencies since September 1.
