Article Summary

**Bank of Russia Authorizes Private Banks to Offer Cryptocurrency Services with Regulatory Restrictions** The Bank of Russia has made a groundbreaking announcement allowing private banks to integrate cryptocurrency operations into their service portfolios, marking a significant shift in the nation's digital asset policy. First Deputy Chairman Vladimir Chistyukhin confirmed that these crypto banking services will operate under strict capital and reserve requirements, ensuring regulatory compliance within Russia's financial ecosystem. This development positions Russia as a more crypto-friendly jurisdiction, potentially impacting Bitcoin and other cryptocurrency markets globally. Private banks can now explore blockchain-based services, cryptocurrency trading, and digital asset custody solutions while adhering to central bank oversight. The move signals growing institutional acceptance of DeFi and cryptocurrency infrastructure within traditional banking systems. The regulatory framework will likely influence cryptocurrency adoption rates across Eastern Europe and may attract international crypto businesses seeking compliant banking partnerships. This policy shift comes amid global discussions about cryptocurrency regulation and central bank digital currencies (CBDCs). Market analysts anticipate this announcement could drive increased cryptocurrency trading volumes and institutional investment in Russian markets, while providing clearer guidelines for blockchain technology integration in banking services.