The Bank of Russia has developed rules for margin trading in cryptocurrency and digital financial assets (DFA) (.pdf). According to the draft directive, leveraged transactions will be available to both qualified and non-qualified investors. However, the regulator will set limits on transaction volume and available assets for the latter in the future.
A broker will only be able to open a margin position for a client if the trading organizers provide an official risk rate for that asset. Furthermore, for a client to combine crypto-assets and digital rights into a single position, they must be traded within the same technological platform or information system. The Central Bank is accepting proposals and comments on the draft until August 12.
The organized Russian cryptocurrency market in Russia is set to launch on September 1, 2026, following the enactment of the "On Digital Currencies and Digital Rights" law. It outlines a significant portion of the market regulation rules, but some norms will be contained in separate regulatory acts of the Central Bank. In particular, the regulator has published requirements (.pdf) for digital depositories and defined the conditions (.pdf) for organized trading of DFAs and cryptocurrency.
For information on how the Russian digital asset market will look, read the Kommersant article.
Andrei Kovalev
