The Central Bank of Russia has published a draft ordinance setting requirements for brokers to accept cryptocurrencies and digital rights as margin collateral and for clients to execute short sales. Both qualified and non-qualified investors could engage in margin trading, although cryptocurrency transactions by non-qualified investors would be subject to limits established by the central bank. The proposal would also require brokers to include cryptocurrencies and digital rights when calculating risk coverage ratios for leveraged transactions. These ratios determine the permitted limits for leveraged trading and the thresholds at which client positions must be forcibly closed to contain losses. The draft is undergoing a regulatory impact assessment.
Central Bank of Russia2026-07-29
Central Bank of Russia proposes requirements for cryptocurrency margin collateral and short sales
The Central Bank of Russia has proposed requirements for using cryptocurrencies and digital rights as margin collateral and executing short sales. The draft would extend brokers’ risk coverage calculations to these assets, while cryptocurrency transactions by non-qualified investors would be subject to central bank limits.