Currently, Russia already has a number of products related to cryptocurrencies. In May 2025, the Bank of Russia allowed financial organizations to offer investors derivative financial instruments, securities, and digital financial assets (CFA), the returns of which are linked to the value of cryptocurrencies. The key condition the regulator set at that time was that these instruments should not involve the actual delivery of cryptocurrencies. Following this, Sberbank launched structured bonds whose returns are directly dependent on the price movement of Bitcoin, and trading of futures on ETF shares from BlackRock started on the Moscow Exchange. Such instruments were initially only available to qualified investors. However, this year, non-qualified participants may also be allowed to participate, including trading. This summer, market regulation for cryptocurrencies is planned to be introduced, which will permit such investors to conduct digital asset transactions through licensed intermediaries after testing and within established limits. The bills submitted to the State Duma in early April also set requirements for organizations that will be able to conduct crypto operations. Intermediaries will need to obtain a license, but existing brokers and banks operating in the Russian market are proposed to be allowed to obtain crypto exchange licenses in a notification procedure.#GateSquareAprilPostingChallenge