Bank of Russia to Allow Financial Institutions offer Crypto-linked Financial Instruments

The Bank of Russia will permit financial institutions to offer crypto-linked financial instruments, including derivatives and securities, to worthy investors. In a memo circulated on May 28, 2025, the BoR said these instruments include assets whose returns are tied to crypto. The financial regulator, however, emphasized that the products must not involve the transfer or custody of digital currencies like Bitcoin. 

The central bank has issued a caution to all financial institutions, urging them to ensure full capital coverage. He also advised them to set a cap on individual exposure to these financial instruments. Despite advocating for regulated exposure, the Russian Central Bank kicks against direct investment in cryptocurrencies.