Russia's Central Bank is proposing a simplified notification process for commercial banks and brokers to obtain cryptocurrency exchange licenses. Central Bank Governor Elvira Nabiullina stated that institutions could operate as intermediaries using their existing banking licenses, leveraging their experience in combating money laundering and fraud.
To manage risk, initial investments in crypto will be capped at 1% of a bank's capital. This move aligns with Russia's broader strategy to regulate digital assets, including plans to block unregistered crypto exchange websites.
The Moscow Exchange also aims to capture significant fees currently paid to international exchanges by Russian users.