Bank of Russia Approves Cryptocurrency Investment for “Qualified Investors”

Per a filing from 28 May 2025 by the Bank of Russia, financial entities are permitted to provide “qualified investors” with access to financial derivatives, securities, and digital financial assets that are tied to crypto asset price fluctuations. This initiative is set to last for three years. 

In a press announcement, the Bank of Russia noted that a critical requirement is that these instruments should be non-deliverable. 

The status of crypto asset legality in Russia remains intricate. The broad acceptance of crypto within the country is still generally discouraged. “Qualified investors” or wealthy individuals with considerable financial resources are permitted to hodl cryptocurrencies.

In the meantime, Sberbank, the nation’s largest bank, is preparing to act as an official trading market maker for the regulated crypto platforms in Russia. As reported by local news sources on 27 May 2025, Sberbank will serve as a market fluidity provider and trading market maker on platforms regulated in Russia, allowing super-qualified investors to trade directly in cryptocurrencies.

JUST IN: The Central Bank of Russia is permitting financial firms to offer crypto derivatives to qualified investors. pic.twitter.com/Q9459t1RFY

— Whale Insider (@WhaleInsider) May 29, 2025

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“Qualified investors will gain access to products without direct ownership of crypto, akin to ETFs”

Alexander Zozulya, Director of Sberbank’s Global Markets Division, provided her insights. She remarked, “The Bank of Russia has taken a significant step by unveiling plans for an experimental legal framework (ELF) for cryptocurrency transactions.”

“We anticipate the establishment of a legal “sandbox” – similar to a regulated crypto platform,” she continued, “where super-qualified investors could engage directly with cryptocurrencies.”

Based on Zozulya’s remarks, qualified investors will be able to access products without owning cryptocurrencies outright, “akin to Western exchange-traded funds (ETFs).”

In 2021, Russia prohibited the use of crypto for transactions under the “On Digital Financial Assets” legislation. Nevertheless, the government is exploring avenues to incorporate crypto into its financial ecosystem.

Explore: Russia Plans To Launch Crypto Trading network Under Experimental Legal Framework

Russia Looks Toward a National Stablecoin

Recently, a high-ranking finance official from Russia advocated for the creation of a national stablecoin in light of the US government’s freezing of wallets associated with the sanctioned crypto trading network Garantex. 

Osman Kabaloev, the deputy director of the Financial Policy Department at Russia’s Finance Ministry, commented that recent occurrences underscore the necessity for domestic alternatives to popular stablecoins like USDT. “We do not impose limitations on the utilization of stablecoins within the experimental legal regime,” Kabaloev stated. 

He suggested that Russia should contemplate producing a stablecoin tied to a distinct currency—potentially the ruble. This could mitigate vulnerability to external pressures.

The impetus for a Russian stablecoin is occurring amidst a rise in global stablecoin adoption. As indicated by a collaborative report from Artemis and Dune, active stablecoin wallets noted over a 50% increase year-over-year, with total market capitalization exceeding $200 billion in early 2025.

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The article Bank of Russia Legalizes Crypto Investment for “Qualified Investors” first appeared on 99Bitcoins.