Foreign cryptocurrency exchanges will be able to legally operate in Russia through subsidiaries.

The Bank of Russia has confirmed that foreign cryptocurrency exchanges and exchange services will be allowed to operate in the Russian market, but only through subsidiaries registered within the country. The statement was made by a representative of the regulator at a financial cybersecurity forum.

According to the Director of the Financial Market Strategic Development Department at the Central Bank, foreign crypto platforms will be able to operate in Russia under the same conditions as other financial intermediaries. To do so, they must establish legal entities in the country and comply with current legislation.

This approach aligns with the broader goal of integrating the cryptocurrency market into the legal framework. At the end of 2025, the regulator presented a concept for crypto asset regulation, which предусматривает that transactions with digital currencies will be carried out through licensed exchanges, brokers, and other intermediaries. Access to such services will be available to both qualified investors and retail participants.

In addition, the Central Bank notes that cryptocurrency usage volumes in Russia remain significant — daily transactions involving digital assets are estimated at tens of billions of rubles, while the total annual turnover may exceed trillions of rubles. At the same time, a substantial portion of these transactions currently takes place outside formal regulation.

Regulators also plan to introduce a transitional period during which cryptocurrency holders will be able to transfer their assets to accounts with regulated intermediaries within the country. This is intended to ensure a smooth transition to the new market framework.

Experts believe that such changes could stimulate the growth of legal cryptocurrency services in Russia and increase competition between domestic and international market participants, creating a more transparent and secure environment for investors and users.