The Central Bank of Russia will implement new encryption regulations in 2026, requiring banks to have a 100% risk preparedness reserve and limiting investments to 1% of capital｜Regulation continues to tighten ahead of the full rollout of the digital ruble.

The Central Bank of Russia is planning to implement stricter regulations on the operations of Financial Institutions involved in Crypto Assets, requiring banks to set aside 100% risk reserves for crypto asset operations and limiting investment scale. The new regulations are proposed to be launched in 2026 in conjunction with the Digital Money, aiming to control domestic crypto risks and pave the way for Central Bank Digital Currency (CBDC). Although the Central Bank still opposes the legalization of Crypto Assets, it has opened foreign trade crypto settlement pilot projects under Western sanctions, while Duma members are calling for the establishment of legal exchanges to guide the compliant flow of tens of billions of dollars in crypto assets.

[2026 New Regulations: Comprehensive Coverage of Bank Crypto Operations and Risk Control]

The Central Bank of Russia (CBR) has issued notifications to several banks regarding the planned launch of a specialized regulatory framework for digital asset-related businesses. According to reports from TASS news agency and Bits.media, the new regulations focus on:

1. Set the capital adequacy ratio requirements for direct and indirect investment in Crypto Assets by banks.

2. Applicable to the issuance and investment of self-operated crypto financial products.

3. Propose risk coverage requirements for loans issued to cryptocurrency companies.

4. It is stipulated that banks must cover 100% of the nominal value of Crypto Assets, and the exposure must not exceed 1% of their own capital.

Currently, the CBR has advised 97 banks to be "extremely conservative" when assessing crypto business and to proactively adapt to the new regulatory standards that will be implemented in 2026.

[Central Bank Position: Opposes the legalization of encryption, but limited opening under sanctions]

The CBR has always been the strongest regulatory authority in Russia against the legalization of decentralized crypto assets such as Bitcoin. However, after Western sanctions hindered traditional cross-border payment channels, there has been a limited change in attitude:

1. Approval of the "experimental system" for the use of Crypto Assets in settlement within the foreign trade sector.

2. Allow qualified investors to invest in crypto assets through derivatives (Bitcoin futures investments reached 16 million USD within a month)

3. The domestic market still explicitly prohibits crypto payments and continues to promote the construction of the digital ruble.

According to statistics, private crypto asset holdings in Russia have exceeded 25 billion USD, and strong market demand is forcing policy adjustments.

[Political Pressure and Legislative Dynamics: Lawmakers Push for Legal Exchanges, Treasury Seeks Cooperation]

In the face of the expanding scale of Crypto Assets in the private sector, members of the State Duma have recently jointly called on the Central Bank:

1. Establish a "legal crypto assets exchange network" to bring crypto trading under regulation.

2. Set the minimum capital requirement for the exchange operator to ensure financial stability.

3. Reduce illegal financial flows and enhance public trust in the financial system.

The Ministry of Finance has also shown a more open attitude, planning to cooperate with the CBR to launch a cryptocurrency trading mechanism aimed at qualified investors. Some analysts believe that the current strict control policy is to clear potential competition for the public testing and promotion of the digital ruble in 2026.

[Digital Ruble Layout: National-level CBDC will be officially launched in September 2026]

The Central Bank's choice to implement new encryption regulations in 2026 is not a coincidence – in September of the same year, the Central Bank of Russia's digital currency (digital ruble) will launch a nationwide public test. As a third form of legal currency alongside cash and bank deposits, its promotion is regarded by the government as an important strategy for modernizing financial infrastructure.

In recent months, Russia has revised several laws to restrict the use of crypto assets in the daily economy. Analysts generally believe this is paving the way for the digital ruble and gradually weakening the survival space of non-state-led digital currencies.

[Conclusion]

The Central Bank of Russia is tightening regulations on crypto assets while making limited compromises in the context of sanctions. The year 2026 will be a crucial turning point: on one hand, new crypto regulations will constrain banks' risk exposure, while on the other hand, the digital ruble will enter public testing comprehensively. Whether to establish a legal crypto exchange and how to balance private crypto demand with the Central Bank's control intentions will become the focal points of the next stage of Russia's crypto policy. Global regulators are also closely monitoring this major economy's policy experiment to assess the practical paths for the coexistence and competition of CBDCs and private crypto assets.