In its latest move toward integrating cryptocurrencies into its financial framework, Russia has announced that domestic banks will be granted permission to engage in limited crypto operations under stringent regulatory conditions.

Vladimir Chistyukhin, the First Deputy Chairman of the Bank of Russia, highlighted that this cautious approach aims to prevent commercial banks from making cryptocurrency trading their primary focus.

New Role Of Banks In Crypto Assets

Chistyukhin emphasized the need for strict capital and reserve standards, asserting that while excluding banks from cryptocurrency transactions would be unjustified, it is essential to maintain conservative views on the banking sector’s involvement with digital assets. In his statement, Chistyukhin asserted:

We hold conser

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