Russia Permits Banks To Provide Cryptocurrency Services

The Bank of Russia has granted approval for financial institutions to provide specific cryptocurrency-based financial products to accredited investors.

Russian banks are now allowed to offer a variety of crypto offerings, such as crypto derivatives, securities, and other digital financial assets linked to cryptocurrency prices, as stated by the central bank on May 28.

A significant condition, however, is that these offerings should not include the “actual delivery of cryptocurrencies,” the Bank of Russia pointed out.

This announcement coincided with the Bank of Russia revealing a 51% rise in cryptocurrency asset inflows from Russian residents in the first quarter of 2025, amounting to 7.3 trillion rubles ($81.5 billion).