VTB Prepares for Cryptocurrency Trading in Russia: Bank Awaits Regulatory Approvals

Cryptocurrency trading in Russia may receive a new boost: VTB is preparing to launch operations with digital assets in the Russian market as soon as the regulator finalizes the rules and begins issuing necessary permits to participants.

The bank's preparations were discussed by VTB board member and head of corporate and investment business 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 we, as a bank, are actively preparing to launch cryptocurrency trading in the Russian market.

Why Banks Are Preparing in Advance

The foundation for such plans was laid by the cryptocurrency law adopted in 2026. Its provisions are being implemented in stages: as of September 1, 2026, the basic provisions came into effect, and the Bank of Russia began forming registries of market participants. The new order will determine who can work with digital assets, how participants will gain access, how operations will be monitored, and what requirements will emerge for the infrastructure. The next stage is related to the regulator's approvals: without them, banks, exchanges, and other players will not be able to launch full-fledged regulated trading.

This is why VTB speaks of preparations ahead of the actual start of trading. The bank needs to fine-tune client scenarios, internal procedures, risk control, and technical aspects in advance. For a market where cryptocurrency has long remained outside a full-fledged banking infrastructure, this stage is particularly important.

VTB's interest in this direction is not new. Last summer, the bank's top management estimated the potential commission income from this market at several tens of billions of rubles. VTB expects to capture a significant share through convenient client services if regulations allow 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 banking business. A wide range of questions is forming around it: tax accounting, compliance, transaction monitoring, investor protection, and asset status. For the state, several institutions are important here:

• Federal Tax Service of Russia
• Federal Financial Monitoring Service
• Ministry of Finance of the Russian Federation
• State Duma

Their involvement is crucial because the market touches on taxes, financial supervision, and the rules for the circulation of digital instruments.

Particular significance is attached to profit tax, value-added tax, and income tax: market participants will need to understand how to account for income from operations with digital assets. At the same time, digital currency should not automatically be perceived as a security --- the legal regime of such instruments depends on the specific structure and future rules of the regulator.

What Is Important for Clients Before the Rules Launch

For banks and other professional participants, legal cryptocurrency trading will be tied to the regulator's approval and inclusion in the necessary registries. Before such a regime is launched, individuals and legal entities will have to consider existing restrictions: operations outside the official infrastructure carry legal risks, especially if the sale or purchase violates the rules of control and circulation of digital assets.

Restrictions are linked to risks, which is why the regulator needs a clear framework: high volatility, potential loss of funds, difficulty in verifying counterparties, compliance issues, and technical failures. P2P trading involves direct transactions between users without a bank or exchange as a second party. This format can be convenient, but it is particularly sensitive to the verification of the source of funds, transaction execution, and the good faith of the second party.

Buying and selling cryptocurrency is usually discussed through P2P transactions, exchange services, and both foreign and Russian platforms. However, a regulated banking scenario will only begin after the regulator's approval. For assets like Bitcoin and Ethereum, not only customer demand will be important, but also compliance with future requirements. Limits for individuals, control procedures, and tax accounting will also depend on the rules under which the market will start to operate.

In the context of sanctions due to Russia's invasion of Ukraine, business interest in alternative financial technologies has become more noticeable. Major financial institutions, including VTB, the Moscow Exchange, and Sberbank of Russia, could play an important role in forming a 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 in certain regions, there is an excess of electricity. This makes such areas interesting for data centers and other energy-intensive projects.

The demand for computing power is growing from new industries that require 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 receives clear rules, adjacent solutions could develop alongside banking services—such as an online digital currency exchange service for clients who need clear and legal access to transactions. The prospects of such a market will be influenced by investments, the market capitalization of the largest crypto assets, and the position of regulators.

The political framework also remains significant: decisions by the government, the president's 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.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.