Bank of Russia Warns Crypto Growth Could Weaken the Ruble

In its new policy guidelines for 2027 to 2029, the Bank of Russia listed cryptocurrencies and stablecoins among the major threats to the country's financial markets and monetary sovereignty. The central bank warned that the spread of crypto assets could weaken the ruble, cause heavy financial losses for retail investors and fuel the shadow economy, and it called for tougher enforcement against unlicensed platforms. Under current rules, Russian retail investors face an annual trading cap of about 3,700 dollars through licensed brokers. The policy document reflects a dual approach: using crypto assets to settle international trade and bypass sanctions is permitted, but domestic use remains tightly restricted, since the bank says wider adoption would disrupt monetary tools and complicate inflation and interest rate management.