Cryptocurrency trading in Russia is gradually approaching legal launch: VTB is already preparing infrastructure and client scenarios to operate in this market after the new cryptocurrency law comes into effect.
Vitaly Sergeichuk, a member of the VTB management board and head of the corporate and investment business unit, spoke about the bank’s preparations at the Eastern Economic Forum. According to him, client interest is already noticeable, so the bank is proactively building processes for future digital asset trading.
Clients are already actively waiting for this opportunity, and as a bank we are actively preparing to launch cryptocurrency trading on the Russian market.
Why Banks Are Preparing Now
The key reference point was the cryptocurrency law adopted in 2026. Its provisions are being introduced in stages: as of September 1, 2026, the basic part of the regulation came into force, and the Bank of Russia began forming registries of market participants. The next practical stage is admitting participants to operations through registries and regulatory approvals; after this, it will become clearer how exactly users and businesses will be able to buy, sell, and withdraw digital assets within the legal framework.
For the financial sector, this is not just the launch of another product. Cryptocurrency requires a clear accounting model, compliance with regulatory requirements, and transparent client interactions. In this logic, the positions of the Central Bank, the Ministry of Finance of the Russian Federation, the Federal Tax Service of Russia, and the Federal Financial Monitoring Service are important.
A separate set of issues is related to taxes and fund withdrawals. Legal cryptocurrency withdrawals will depend on which participants are included in the Bank of Russia’s registries and what procedures are approved for operations. Clients will have to undergo identification, comply with reporting requirements, and be prepared for checks on certain transfers. There may be limits and bans on schemes that do not fit into regulations or financial monitoring requirements.
Income from cryptocurrency operations falls under the tax domain. For businesses, profit tax and value-added tax may be relevant; for private investors, personal income tax applies. Income must be declared and tax paid in accordance with established procedures, and rates, payment deadlines, and liability for non-payment will depend on the participant’s tax regime and the format of the operation.
VTB Expects a Significant Market
VTB’s interest in this area is not new. Back in the summer, the bank’s top management estimated the potential volume of commission income at tens of billions of rubles. VTB expects to capture a significant share through convenient client service and readiness to operate within the legal framework.
Different access formats may be in demand on the market: banking apps, exchanges, brokerage solutions, online digital currency exchange services, and P2P platforms. The banking channel is closer to the regulated framework, exchanges are usually important for liquidity, brokerage solutions are familiar to investors, online exchangers are simpler for buying and selling, and P2P provides more flexibility in settlements but requires especially careful transaction checks.
The Russian trading framework will form around platforms and participants that receive approvals and are included in registries. Access for individuals will depend on client identification, the rules of a particular service, and regulatory requirements. Foreign platforms for Russian users may be restricted due to sanctions, compliance procedures, and the rules of the services themselves.
P2P cryptocurrency trading means transactions directly between users through a platform that helps find a counterparty and conduct the exchange. Its strong point is flexibility in payment methods and deal terms. The main risks are errors in payment details, disputes with the counterparty, payment delays, or attempts at fraud. Therefore, it is important to check the status of the seller or buyer, work only through a protected platform scenario, and carefully follow the rules of the transaction.
Legally, you will be able to buy only those digital assets that are allowed by the rules and infrastructure of authorized market participants. Certain tokens or coins may face restrictions if they do not meet regulatory, risk control, or financial monitoring requirements.
In a broader context, the development of the crypto market intersects with instruments familiar to investors. For some clients, a digital asset may become an alternative or addition to such categories as securities, currency, and classic investments. At the same time, the market remains volatile: Bitcoin, Ethereum, and other assets depend on demand, liquidity, and market capitalization.
In addition to market volatility, participants will have to consider legal, financial, and technical risks. Rules may change as new regulations are introduced, operations may be subject to additional checks, and sanctions may affect access to foreign services. The technical side is also important: mistakes during transfers, service outages, and weak account protection can lead to loss of funds.
The Far East and Digital Infrastructure
Vitaly Sergeichuk also drew attention to the role of digitalization and artificial intelligence in the development of the Far East. Some regions still have a surplus of electricity, and demand for data centers and computing power is growing from new industries.
This feature makes the Far East an attractive site for energy-intensive digital projects. Among them are mining, data processing, and other areas that require large computing resources and stable energy. Thus, the topic of cryptocurrencies naturally fits into the forum’s agenda, where infrastructure, technology, and new sources of growth are discussed.
Digital asset regulation is developing against the backdrop of a broader economic agenda. It is influenced by government decisions, including the course set by Vladimir Putin and Mikhail Mishustin, as well as external restrictions, including sanctions related to Russia’s invasion of Ukraine. In such conditions, Russian financial institutions are looking for legal and technologically sustainable models for working with new assets.
While cryptocurrency trading in Russia is still in the preparation stage, banks are already laying the foundation for the future market. When the regulator begins issuing approvals, those participants who have preconfigured infrastructure, risk control, and clear client service will have the advantage.
{
“@context”: “https://schema.org”,
“@type”: “Article”,
“about”: [
{
“@type”: “Organization”,
“name”: “VTB”
},
{
“@type”: “Organization”,
“name”: “Bank of Russia”
},
{
“@type”: “Organization”,
“name”: “Ministry of Finance of the Russian Federation”
},
{
“@type”: “Organization”,
“name”: “Federal Tax Service of Russia”
},
{
“@type”: “Organization”,
“name”: “Federal Financial Monitoring Service”
},
{
“@type”: “Person”,
“name”: “Vitaly Sergeichuk”
},
{
“@type”: “Place”,
“name”: “Russia”
},
{
“@type”: “Thing”,
“name”: “cryptocurrency”
},
{
“@type”: “Thing”,
“name”: “mining”
},
{
“@type”: “Thing”,
“name”: “bitcoin”
}
]
}
