The Bank of Russia has issued draft regulations allowing brokers and forex dealers to count digital currencies as capital, but with strict limitations that expose firms holding unapproved crypto to severe penalties. The draft instruction published August 14 permits only Bitcoin, Ethereum and USDT—currently the sole approved assets for exchange trading—to count toward capital, capped at 25 percent of qualifying funds and only when held with Russian digital depositaries.
Any digital currency holdings beyond this 25 percent threshold trigger concentration penalties deducted from capital adequacy ratios. Crucially, unlisted cryptocurrencies face punitive treatment: they are deducted from capital entirely and carry a 100 percent risk weighting, effectively assuming total loss potential. Listed currencies use doubled clearing house risk rates.
The regulations follow Federal Law 282-FZ signed August 4, with most provisions effective September 2026. The central bank is currently accepting public comments on the framework.
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** Russian brokers holding non-approved cryptocurrencies face immediate capital adequacy pressure and should evaluate rebalancing portfolios toward the three sanctioned assets before implementation.
Source: Finance Magnates