Russia's Sberbank Ready to Enter Crypto Trading
Russia's largest bank, Sberbank, is preparing to offer crypto trading services to its clients once the regulatory framework is in place and organized exchange trading begins, according to Senior Vice President and Head of Wealth Management Ruslan Vesterovsky, speaking at the Moscow Exchange forum. The bank is coordinating with other market participants and regulators to be ready for the launch.
The Bank of Russia continues to view cryptocurrencies as high-risk instruments under its policy framework. In December 2025, the central bank published a concept for domestic cryptocurrency regulation that allows both qualified and non-qualified investors to purchase crypto assets. The concept defines digital currencies and stablecoins as currency assets permitted for sale and purchase, while domestic payments with them remain prohibited. Under the proposal, non-qualified investors can access the most liquid cryptocurrencies after passing a test and within an annual limit of 300,000 rubles (approximately $3,300) through a single intermediary.
In 2025, Sberbank expanded its digital financial asset issuance to 408 billion rubles, far exceeding 2024 output and reflecting strong growth from 2023. In December 2025, the bank issued a pilot crypto-backed loan to Intelion Data, secured by mined bitcoin, using a proprietary custody system for collateral storage. Russian authorities expect the completion of legislation governing digital assets by July 1, 2026.
Russia's Crypto Legislation Bill Advances
Recently, Russia's State Duma advanced a sweeping crypto regulation bill in its first reading, with 327 of 340 deputies voting in favor. The proposed law, introduced by the government of Russia, establishes a comprehensive framework for issuing, trading, and storing digital currencies under licensed intermediaries supervised by the Bank of Russia. It classifies cryptocurrency as property—allowing its use in legal disputes—while maintaining a ban on domestic payments but permitting cross-border transactions.
The bill also introduces investor tiers, stricter controls on peer-to-peer activity, and a regulated custody system, alongside requirements for mining operations to use domestic infrastructure. Lawmakers still need to pass two additional readings, with some officials calling for revisions over concerns about market restrictions and asset protections.