Cryptocurrency trading in Russia may get a new boost: VTB is preparing to launch operations with digital assets on the Russian market once the regulator finalizes the rules and begins issuing the necessary permits to participants.
The bank’s preparations were discussed by VTB Management Board member and head of the corporate and investment business division Vitaly Sergeichuk at the Eastern Economic Forum. According to him, client demand is already noticeable, so the bank is proactively building the infrastructure for the future service.
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 Prepare in Advance
The basis for such plans was the cryptocurrency law adopted in 2026. Its provisions are being introduced in stages: as of September 1, 2026, the basic regulations came into force, and the Bank of Russia began forming registries of market participants. The new procedure should determine who will be able to work with digital assets, how participants will gain access, how operations will be monitored, and what requirements will be set for infrastructure. The next stage is related to regulator approvals: without them, banks, exchanges, and other players will not be able to launch fully regulated trading.
This is why VTB is talking about preparations before the actual start of trading. The bank needs to fine-tune client scenarios, internal procedures, risk controls, and the technical side in advance. For a market where cryptocurrency has long remained outside the full-fledged banking infrastructure, this stage is especially important.
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 from this market at several tens of billions of rubles. VTB expects to capture a significant share thanks to a convenient client service, if regulation allows banks to work with such instruments.
How Regulation Changes the Digital Asset Market
The legalization of digital asset trading inevitably brings the topic beyond just the banking business. It raises a wide range of issues: tax accounting, compliance, transaction monitoring, investor protection, and asset status. Several institutions are important for the state here:
- Federal Tax Service of Russia
- Federal Financial Monitoring Service
- Ministry of Finance of the Russian Federation
- State Duma
Their involvement is important because the market affects taxes, financial oversight, and the rules for the circulation of digital instruments.
Special attention is paid to profit tax, value-added tax, and personal income tax: market participants will need to understand how to account for income from digital asset transactions. At the same time, digital currency should not automatically be considered a security — the legal regime for such instruments depends on the specific structure and future regulator rules.
What Matters for Clients Before the Rules Launch
For banks and other professional participants, legal cryptocurrency trading will be tied to regulator approval and inclusion in the necessary registries. Before such a regime is launched, individuals and legal entities will have to take into account existing restrictions: operations outside the official infrastructure carry legal risks, especially if the sale or purchase violates the rules for the control and circulation of digital assets.
The restrictions are related to risks that require the regulator to have a clear framework: high volatility, possible loss of funds, difficulty verifying counterparties, compliance issues, and technical failures. P2P trading is direct deals between users without a bank or exchange as the second party. This format can be convenient, but it is especially sensitive to verifying the source of funds, deal execution, and the good faith of the other party.
The purchase and sale of cryptocurrency are usually conducted through P2P deals, exchange services, foreign and Russian platforms. However, a regulated banking scenario will only begin after regulator approval. For assets like Bitcoin and Ethereum, not only client demand but also compliance with future requirements will be important. Limits for individuals, control procedures, and tax accounting will also depend on the rules under which the market will operate.
Amid sanctions related to Russia’s invasion of Ukraine, business interest in alternative financial technologies has become more noticeable. At the same time, large financial institutions, including VTB, Moscow Exchange, and Sberbank of Russia, may play an important role in forming legal infrastructure if the market develops in a regulated format.
The Far East, Mining, and Demand for Computing
Vitaly Sergeichuk also linked the topic of digital assets to a broader technological agenda. He noted that digitalization and artificial intelligence are changing life in the Far East, and some regions still have an excess of electricity. This makes such territories attractive for data centers and other energy-intensive projects.
Demand for computing power is growing from new industries that need energy and productive infrastructure. For the digital economy, not only the assets themselves and the services around them are important, but the entire technological base:
- cryptocurrencies, such as Bitcoin and Ethereum
- infrastructure for cryptocurrency circulation
- data centers
- blockchain projects
- mining
If the market gets clear rules, related solutions may develop alongside banking services — for example, an online digital currency exchange service for clients who need clear and legal access to transactions. The prospects for such a market will be influenced by investments, the market capitalization of major crypto assets, and the position of regulators.
The political framework also remains significant: government decisions, the presidential administration, and relevant agencies set the pace of change. In this system, key figures remain Vladimir Vladimirovich Putin and Mikhail Vladimirovich Mishustin, and the practical implementation of the rules depends on how quickly the financial sector prepares a safe and convenient infrastructure for clients.
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