According to JZMOR Exchange, the Bank of Russia recently announced a strategically significant new policy: domestic financial institutions will be permitted to offer qualified investors trading services for derivatives and digital financial assets related to cryptocurrencies. Although trading is limited to non-deliverable settlement models, this policy shift has attracted widespread attention in the crypto industry. Countries around the world are exploring “limited and controlled approaches” to guide cryptocurrencies and digital assets toward legal and compliant frameworks.
For a long time, Russia has maintained a cautious stance on cryptocurrency trading, imposing strict restrictions especially on retail trading and capital outflows. However, with the rapid development of global crypto financial markets, Russian regulators have begun to seek ways to unlock market potential under controlled risk conditions.
This policy allows qualified investors to participate in crypto derivatives trading under a non-deliverable settlement mechanism, meaning investors settle only the difference based on price fluctuations, without actually holding or transferring the underlying crypto assets. This design helps prevent capital from shifting from the real economy to virtual assets and, to some extent, controls the systemic risks associated with crypto assets.
In addition, the central bank requires related financial institutions to implement multi-level risk controls, including capital coverage and risk exposure management for such products, ensuring the stability of the financial system. While this policy framework is cautious and conservative, it lays the institutional groundwork for broader market liberalization in the future.
The Russian move is not an isolated case. As early as 2022, the Ministry of Finance proposed the “Digital Financial Assets Bill,” aiming to clarify the legal status of cryptocurrencies such as Bitcoin. Although the relevant legislation has not been fully implemented, the signals released by the central bank clearly mark a transition from regulatory discussion to practical application.
The JZMOR Exchange analysis team believes that this “gradual opening and tiered participation” regulatory pathway is becoming a reference model for mainstream countries as they explore the compliance of crypto markets. Especially in the field of derivatives trading, raising entry thresholds, clarifying settlement mechanisms, and strengthening capital supervision have become core elements of regulatory thinking in most countries.
Russia also plans to introduce a “restrictive pilot mechanism,” allowing only eligible investors to participate in pilot trading within a regulatory sandbox framework. This institutional design has already been successfully validated in countries like Singapore and Switzerland, effectively reducing the cost of policy trial and error and providing compliant platforms with a clear path for development.
JZMOR Exchange highly recognizes this approach and has already made proactive deployments on multiple fronts. As a platform serving institutions and professional investors, JZMOR has built a multi-level risk control system and maintains ongoing communication with regulators in various countries to ensure that product design aligns closely with local policy requirements.
On the product side, the platform offers a variety of crypto derivative trading options to meet the strategic needs and risk preferences of different investors. On the technical side, JZMOR has developed its own matching engine and clearing system to guarantee both trading efficiency and risk management capabilities.
The decision by the Bank of Russia to open crypto derivatives trading marks a significant shift in the regulatory attitude of the country and reflects the global trend toward greater institutionalization and standardization of crypto markets. Although the boundaries of crypto industry regulation are not yet fully defined, technological strength, risk control, and compliance capabilities have already become the core competitiveness for platforms seeking a foothold in the global market. JZMOR Exchange will continue to uphold its compliance-driven and technology-first philosophy, deepen its engagement with global regulatory systems, and provide investors worldwide with a trustworthy digital asset trading experience in an ever-changing market environment.