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Russia’s central bank now allows financial firms to offer crypto-linked derivatives.
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The instruments must be non-deliverable and only for qualified investors.
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Sberbank and local exchanges plan to launch crypto yield products.
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Regulatory experiments for broader crypto use are also underway.
Russia Eases Crypto Access for Select Investors
The Bank of Russia has approved the use of financial derivatives tied to cryptocurrency prices, allowing qualified investors to gain exposure without directly holding digital assets. These instruments include securities and digital financial assets, but must be settled in cash.
The move is a cautious step forward in opening Russia’s tightly controlled crypto market.
Sberbank and Exchanges Join In
Following the central bank’s announcement, Russia’s largest bank, Sberbank, said it will introduce structured products offering yields tied to crypto prices. The Moscow Exchange plans to launch a new Bitcoin futures product in June, and SPB Exchange is developing its own crypto-linked futures platform.
Cautious Implementation and Future Plans
The Bank of Russia emphasized a conservative risk approach, requiring full capital coverage and individual limits on such products. The central bank also proposed an experimental regime in March to allow limited crypto transactions for highly qualified investors. Plans for a dedicated crypto exchange are in development with the Finance Ministry.
