The Central Bank of Russia has decided to allow banks to engage in Crypto Assets business.

[The Central Bank of Russia has decided to allow banks to conduct crypto assets business] On October 10, news from Cryptopolitan reported that Vladimir Chistyukhin, First Deputy Governor of the Central Bank of Russia (CBR), revealed at the Finopolis forum that the Central Bank of Russia has decided to allow banks to conduct crypto assets business but will introduce strict capital limits and reserve requirements. Chistyukhin also pointed out that the Russian Central Bank hopes to implement a comprehensive law regulating Crypto Assets investment next year. This will enable authorities to implement a licensing mechanism, which they believe will allow the first licensed service providers to enter the market by the end of the year. Chistyukhin's call for the swift approval of the appropriate Crypto Assets legislation proposal has received support from his superior, Elvira Nabiullina, the governor of the Russian Central Bank.