The Russian Central Bank says it will conduct a “large-scale audit” of the entire nation’s crypto holdings and transactions in early 2026.
The Russian newspaper Izvestia reported that the bank wants to launch a comprehensive review of crypto investments and lending volumes for companies operating in the space.
The Central Bank said it also plans to review “individual investments” in digital financial products “whose returns are tied to the price of cryptoassets.”
This likely refers to crypto derivatives and other similar financial products. Many of these have launched on the Moscow Exchange and elsewhere in Russia this year.
The newspaper wrote that the bank’s decision “reflects its growing attention to the risks and opportunities” of the crypto space.
These, the bank thinks, are having an impact “not only on global markets, but also on the Russian economy.”
The Bank of Russia said it will “conduct a survey of cryptoasset investments and lending to crypto companies” over the first two months of 2026.
Officials said the survey’s goal was “to assess the volume of investments in cryptocurrencies by regulated entities, including for risk hedging purposes.”
The bank has also ordered the Moscow Exchange and commercial banks that offer crypto derivatives to send it monthly reports on transactions and volumes.
The bank has frequently found itself at loggerheads with the Ministry of Finance on crypto policy.
Russian Finance Minister Anton Siluanov. (Source: Ministry of Finance/Screenshot)
The ministry wants to regulate and tax the crypto industry, and wants to take it “out of the grey zone.”
But the bank would rather pursue solutions that restrict crypto to the fringes of the Russian economic system.
However, Kirill Karpov, a senior lecturer in the Department of Financial Law at Moscow State Law University, told the newspaper:
“ will use the information from the survey to help form regulatory policy. They will look to legalize the market to generate tax revenue.”
The legal expert Olga Zakharova noted:
“At present, Russian legislation does not provide scope for any legal players other than officially registered crypto miners and participants in .”
The sandbox in question allows Russian firms to use crypto as a payment tool in cross-border trade deals.
The bank begrudgingly approved the sandbox in response to to Washington-, Brussels-, and London-led sanctions packages.
In addition to the sandbox, several companies are thought to be conducting direct crypto-powered trade with international partners.
