Executive Summary
Sberbank announced that it will open a cryptocurrency‑trading platform for its customers once the new Russian digital‑asset framework and organized exchange trading become operational. The move comes after the State Duma approved the first reading of a sweeping crypto‑regulation bill, a milestone that could reshape how Russian investors interact with digital currencies. Authorities expect the legislation to be finalized by 1 July 2026, setting the stage for Sberbank’s rollout later this year.
What Happened
In a statement released this week, Sberbank confirmed that it will offer clients direct access to crypto trading once the regulatory environment is in place and a licensed exchange is ready to handle transactions. The bank’s plan hinges on the completion of the digital‑asset legislation that the Bank of Russia is drafting, which defines cryptocurrencies and stablecoins as “currency assets” that can be bought and sold but cannot be used for domestic payments.
Earlier this month, the State Duma voted overwhelmingly—327 out of 340 deputies—to pass the first reading of the bill. The legislation outlines a framework for issuing, trading, and storing digital currencies through licensed intermediaries overseen by the central bank. It also classifies crypto as property, allowing it to be used in civil disputes while keeping cross‑border transfers permissible.
Background / Context
The Bank of Russia has labeled cryptocurrencies as high‑risk financial instruments, a stance that has limited mainstream adoption. In December 2025 the central bank published a concept that opened the door for both qualified and non‑qualified investors to purchase crypto assets, albeit under strict conditions. Non‑qualified investors may trade the most liquid cryptocurrencies after passing a competency test and are capped at an annual exposure of 300,000 rubles through a single intermediary.
Sberbank has already been testing the waters. Its issuance of digital financial assets surged in 2025, far outpacing the previous year, and the bank piloted a crypto‑backed loan to fintech firm Intelion Data in December 2025. The loan was secured by mined Bitcoin held in Sberbank’s proprietary custody system, demonstrating the bank’s growing infrastructure for digital‑asset services.
Reactions
Regulators have welcomed the proposed framework as a step toward clarifying the legal status of digital currencies while maintaining strict control over domestic payments. The Bank of Russia reiterated that cryptocurrencies remain high‑risk and that any trading activity must occur through licensed intermediaries.
Sberbank’s leadership emphasized that the bank’s readiness stems from its recent pilot projects and its expanded custody capabilities. The institution sees the upcoming law as an opportunity to bring crypto services to a broader client base while adhering to the new investor‑tier system.
What It Means
If the bill becomes law as expected, Russian retail investors will gain a regulated pathway to trade major cryptocurrencies, a market that has previously operated largely on unregulated peer‑to‑peer platforms. The tiered investor model will separate qualified investors—who can access a wider range of assets—from non‑qualified participants limited to the most liquid tokens and a modest annual cap.
Domestic usage of crypto for payments will stay prohibited, preserving the central bank’s control over the national payment system. However, the allowance for cross‑border transactions could position Russian users to engage with global markets, provided they transact through approved intermediaries.
The bill also imposes new obligations on mining operations, requiring them to rely on domestic infrastructure. This could spur investment in local mining facilities, aligning the sector with national energy and security policies.
What Happens Next
The crypto‑regulation bill still requires two additional readings in the State Duma before it can be signed into law. Lawmakers are already debating revisions aimed at balancing market access with asset‑protection concerns. If the legislative timeline holds, the final text is expected to be signed before the 1 July 2026 deadline.
Sberbank has indicated that it will begin onboarding clients to its forthcoming crypto platform as soon as the licensed exchange infrastructure is operational. The bank’s existing custody system and its experience with crypto‑backed lending suggest it could be among the first Russian banks to offer a fully compliant trading service.