Russia Eases Licensing for Crypto Platforms to Promote Legalization
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 1h ago- Simplified Licensing: The Central Bank of Russia is introducing a simple licensing regime for crypto platforms that do not engage with the securities market, aiming to legalize more active providers from the shadow economy, thereby enhancing market transparency and compliance.
- Regulatory Framework Update: According to a top executive, the new regulatory framework will allow traditional financial institutions to operate with crypto assets under their current licenses, which is expected to attract more investors into this emerging market and drive industry growth.
- Risk Control Measures: The central bank plans to introduce special prudential requirements for banks and brokers to limit their exposure to risky crypto assets, ensuring that core activities in the traditional financial market remain unaffected by risks arising from cryptocurrency transactions, thus maintaining financial stability.
- Mining Legalization: Russia legalized the minting of digital currencies like Bitcoin at the end of 2024, with plans to build its own crypto trading infrastructure and increase the number of registered miners to tap into the industry's profits, further promoting economic growth.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
