Olga Shishlyannikova, a senior official at the Central Bank of Russia (CBR), confirmed that the regulator is open to discussing the idea with market players following growing industry interest. She made the remarks at a recent investment forum, acknowledging that brokerage firms had already been granted limited access to crypto-linked instruments.
While the CBR has recently softened its hardline stance—authorizing crypto derivatives for qualified investors and launching a pilot for digital ruble payments—it remains firmly against direct retail exposure to volatile assets like Bitcoin. Shishlyannikova emphasized that any changes involving asset managers and mutual funds would require regulatory amendments, a process slated for the 2026 legislative cycle.
Though Russia’s crypto futures market saw $16 million in inflows in June alone, the central bank remains skeptical of investor appetite. Officials believe current institutional enthusiasm hasn’t yet translated into significant end-user demand.
Meanwhile, the broader crypto policy landscape in Russia is shifting. Starting September, the digital ruble will roll out alongside a national QR code system for payments. At the same time, fines will be imposed on anyone using crypto for domestic purchases outside state-approved experiments in cross-border trade.
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