Russia Plans Allowing Licensed Banks and Brokers to Run Crypto Exchanges With 1% Capital Cap

Russia's central bank is working on rules that would let domestic banks and brokerage firms operate cryptocurrency exchanges under their existing licenses. Central Bank Governor Elvira Nabiullina outlined the plan at a meeting with lending institutions, where she said firms could enter the market via a notification procedure and face a 1% capital limit on crypto activities. The proposal is part of a broader digital asset framework that treats crypto and stablecoins as financial assets while keeping them banned as a means of payment.