Russia outlines 2026 "simple licensing" regime for crypto exchanges and custodians

On January 23, 2026, the Bank of Russia detailed plans for a "simple licensing" framework targeting crypto exchanges and digital-asset custodians that avoid the securities market. The regulator aims to move existing crypto businesses from the gray sector into a regulated space while imposing prudential limits on banks' and brokers' exposure to risky crypto assets. The strategy also builds on Russia's 2024 legalization of crypto mining and includes wider investor access by recognizing cryptocurrencies and stablecoins as monetary assets.