The cryptocurrency market in Russia is transitioning to clearer rules: several major banks have already begun preparing infrastructure for the legal trading of digital assets. The market is simultaneously influenced by local regulation, the macroeconomic agenda, technological trends, and high volatility of quotes. Dmitry Pyanov, First Deputy Chairman of the Management Board of VTB, explained that this is not a separate service, but a full-fledged system for buying, selling, storing, and accounting for such assets.
Banks Are Preparing Services for Cryptocurrency Trading
The new rules are set to come into force from September 1. The remaining by-laws, which will set the practical operating rules, are expected by the end of the year. After this, banks will be able to launch products for clients faster and build processes within the regulated field.
The clearer the rules become, the easier it will be for banks to launch crypto products without leaving the regulated field.
According to Dmitry Pyanov, the decisive factor will be not only access to digital assets itself, but also the quality of the customer experience. Cryptocurrency in such a format requires a convenient interface, reliable storage, and clear accounting so that an operation with a digital asset is as transparent for the client as a regular bank transaction.
Whoever offers clients a convenient service faster will be able to capture a significant share of the market and the main commission income.
Turnover Already Measured in Tens of Billions
The potential of the new segment is estimated at several tens of billions of rubles. Deputy Minister of Finance Ivan Chebeskov stated earlier that the daily turnover of cryptocurrencies in Russia already reaches up to 50 billion rubles.
For banks, this is a major area where not only trading operations matter. The future infrastructure will gradually include:
- Blockchain — the basis for recording and verifying operations with digital assets.
- Digital accounting — a way to transparently reflect the purchase, sale, and storage of assets.
- Data protection — a key element for the safety of funds and client information.
- Process automation — a tool for faster operations and accounting.
- Artificial intelligence — a potential part of solutions for data analysis and processing.
Against this backdrop, Bitcoin and other digital assets are increasingly being considered as a separate financial class, not just an alternative currency.
VTB Aims to Be Among the First Players
Dmitry Pyanov emphasized that VTB intends to be one of the first to obtain all necessary licenses. The bank is already included in the register of information system operators that issue digital financial assets and plans to create its own digital depository.
We intend to obtain all necessary licenses among the first.
A full-scale launch of the regulated crypto market is expected in 2027, when key provisions of the law, including the licensing of intermediaries, will come into force. In 2026, according to Dmitry Pyanov's assessment, banks will mainly invest in infrastructure and not expect significant financial results from this area immediately.
What Private Investors Need to Understand
Cryptocurrency in simple terms is a digital asset, operations with which take place online and are recorded using blockchain. Such a system operates without a single center: transactions are verified by network participants, and records are stored in a digital ledger.
Earning from cryptocurrency is possible in various ways: through trading, long-term investing, mining, or staking. But the result depends on market volatility, the chosen asset, fees, platform reliability, regulation, and the ability to manage risk.
- When purchasing, legal access to the service, clear fees, and verified infrastructure are important.
- For storage, exchange accounts, software wallets, and hardware solutions are used.
- For safe use, access protection, caution with transfers, and address verification are needed.
- Key risks include sharp price fluctuations, loss of access, technical failures, and fraudulent schemes.
How to Evaluate Cryptocurrencies
Bitcoin is more often perceived as a basic digital asset and a benchmark for the entire market. Ethereum is distinguished by the fact that applications and smart contracts are built around it, so its potential is linked not only to price but also to network usage.
The market capitalization of a cryptocurrency shows the total market value of the asset: it helps compare the scale of different coins and understand how large a project appears relative to other digital assets.
In the near future, quotes may be influenced by regulation, macroeconomics, banks' interest in infrastructure, technological trends, and client demand. Therefore, even with growing turnover, forecasts remain sensitive to news and changes in rules.
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