Russia’s central bank published a draft instruction on August 14 allowing financial intermediaries, including brokers, asset managers, and crypto exchanges, to count certain digital currencies toward their capital adequacy calculations. The cap is set at 25% of total calculated assets, with Bitcoin and Ethereum explicitly named as eligible assets. Qualifying assets must be admitted to trading by Russian operators and recorded with a Russian digital depository, with valuation at fair value under IFRS standards. The framework is part of a broader crypto-market law signed by President Putin taking effect September 1. The 25% threshold represents a compromise, allowing firms to diversify their capital base while ensuring at least 75% of that cushion remains in traditional assets.
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