Altcoins News
By Evie Vavasseur
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Russia's central bank wants banks trading crypto. On March 5, Governor Elvira Nabiullina said banks and brokers can get licenses for crypto exchanges, putting traditional finance…
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Nabiullina rolled out the plan at her annual meeting with credit organizations, saying banks already know how to handle compliance stuff that crypto needs.
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Banks wouldn't compete with crypto platforms anymore.
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The plan fits into Russia's bigger push to regulate digital assets across the board. Cryptocurrencies and stablecoins would get labeled as "currency valuables" - meaning people…
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But Russia's crypto crowd isn't thrilled. Sergey Mendeleev, a Russian crypto entrepreneur, worries the plan just hands crypto exchange business from existing operators to big…
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Dmitriy Machikhin from crypto compliance company BitOK thinks crypto users will probably stick with international platforms instead of domestic middlemen, no matter what new…
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For Russia's brokerage sector, the proposal could open up new business if it actually happens.
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The proposal's still being discussed though. Final market rules haven't been adopted yet, and the next steps in this regulatory process remain critical as Russia figures out its…
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Nabiullina stressed the importance of matching Russia's crypto regulations with international standards during the meeting.
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Banks have mixed feelings about the proposal. Some want to expand into crypto trading, seeing it as a chance to tap into a growing market that's been pretty much off-limits.
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The Central Bank hasn't set a firm timeline for when the proposal might actually become law.
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Russia's existing crypto exchanges face an uncertain future under the plan. Companies like Binance and Kraken, which have operated in the Russian market before, might see…
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The Russian Finance Ministry wants to work with the Central Bank to refine the crypto regulation framework.
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Industry people are watching developments closely. Alexei Moiseev, Deputy Finance Minister, mentioned the ministry is preparing for consultations with crypto industry…
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The Central Bank hasn't provided a specific date for when new rules will be finalized. Insiders suggest the timeline could stretch into late 2026, as authorities want to make…
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