Russia’s Central Bank Caps Broker Crypto Holdings at 25% of Capital

The significance here is structural rather than directional: a major central bank is treating crypto exposure as a capital-allocation question for intermediaries, not a prohibition, which implicitly acknowledges digital assets as a durable part of the brokerage landscape even in a jurisdiction with restrictive crypto rules. Brokers operating in Russia now face a hard ceiling that could shape how they warehouse client flow and hedge positions. Whether other regulators adopt similar capital-ratio approaches, rather than outright bans, is the open question worth watching.