Russia Allows Licensed Forex Dealers to Offer Crypto CFDs, but Only to Qualified Investors

The Bank of Russia has allowed licensed domestic forex dealers to offer trading in digital currencies, bringing Bitcoin and Ethereum into the country’s regulated OTC framework for the first time.

The Bank of Russia approved the new Basic Standard for forex operations on July 9, 2026, paving the way for licensed dealers to launch crypto CFDs.

Alfa-Forex is expected to be the first dealer to use the new rules, with Bitcoin (BTC/USD) and Ether (ETH/USD) CFDs scheduled for launch on July 14.

A Long-Awaited Shift for Local Dealers

For Russia’s forex industry, the approval ends a long-running regulatory deadlock. The Association of Forex Dealers had been lobbying for access to crypto-linked instruments, arguing that local firms were losing clients to offshore brokers and crypto-native platforms.

Until now, licensed domestic dealers were not allowed to offer instruments directly tied to cryptocurrencies. That left them outside one of the most visible retail trading segments, even as demand continued to flow elsewhere.

The lack of clarity had already created problems. In late 2025, BCS Forex was forced to remove crypto-related products, including Bitcoin ETFs and direct BTC pairs, after a dispute over how the existing rules should be interpreted.

The new standard gives dealers a clearer legal framework and reduces the risk of similar reversals.

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The Qualified Investor Limit

Under the new rules, crypto CFDs will be available only to qualified investors. It means that the products may help licensed dealers compete for more sophisticated clients, but they will not give them full access to the mass retail flow that offshore brokers continue to target.

Leverage is another limitation. Alfa-Forex is expected to launch the products with leverage of 1:10, well below the levels often offered by offshore platforms.

From a regulatory standpoint, that is consistent with the Bank of Russia’s cautious approach. From a competitive standpoint, it narrows the addressable market.

A Niche Product with Strategic Value

The broader economic impact may also be limited. According to Finance Magnates Intelligence, cryptocurrencies accounted for just 1.3% of global CFD trading volume in Q1 2026.

For many brokers, crypto remains more important as an acquisition and engagement tool than as a core revenue driver. The decision brings crypto-linked instruments into Russia’s regulated financial market under strict investor and leverage limits.

For licensed dealers, the opportunity is now to use that regulatory legitimacy to win back higher-value clients from offshore venues. The market may be narrow at first, but for Russia’s domestic forex industry, it is a step toward bringing crypto trading onshore.