Central Bank opened access to the regulated crypto market: three contours and capital from 15 million - www1.ru

Russia's central bank has outlined a framework giving certain investors regulated access to crypto markets, according to www1.ru. The reported structure rests on three contours — tiered categories that determine who may participate and under what conditions. Entry is tied to a capital threshold of 15 million, meaning access is reserved for investors meeting that level rather than the general public.

The design matters because it separates regulated exposure from the unregulated market that has operated in a grey zone. By setting participation tiers and a capital floor, the central bank appears to be testing demand while limiting retail risk — a pattern other jurisdictions have followed when opening crypto to qualified investors first.

What to watch: how the three contours are formally defined, whether the 15 million threshold is a minimum or an aggregate measure, and which instruments qualify. Clarity on these points will shape how much capital actually enters, and whether the framework becomes a template for broader access later.