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The Central Bank aims to prohibit Russians from using non-custodial cryptocurrency wallets., 2026/04/16 16:12:37
The Central Bank of Russia opposes the notion of allowing citizens to legally utilize non-custodial cryptocurrency wallets, as stated by the first deputy chairman of the Central Bank, Vladimir Chistyukhin. The regulator believes that permitting the use of such wallets is “irresponsible.”
According to Chistyukhin, numerous prospective participants in the Russian crypto market have expressed a desire to engage with non-custodial wallets, where the owner is solely responsible for their funds.
“They say: well, that’s not an issue, we purchased cryptocurrency for the client, they credited it to a non-custodial wallet, and whatever happens there is not our concern. This, of course, is a simplistic approach. However, we would prefer not to promote it. We want responsible investing to occur from both sides: one side invests, while the other offers these investments,” Chistyukhin remarked.
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The official indicated that the Central Bank seeks to ensure that the responsibility for investments in digital assets also lies with intermediaries, similar to how it functions with other financial institutions. Vladimir Chistyukhin clarified the regulator’s stance: the Central Bank aims to facilitate “responsible investing” from both investors and brokers.
Chistyukhin assured that the Central Bank does not oppose Russians opening foreign crypto wallets.
Previously, a representative of the Central Bank mentioned that cryptocurrency purchased through Russian exchanges would be permitted to be transferred to foreign wallets—provided that these wallets are registered on centralized exchanges that require identity verification.
The founder of the legal firm GMT Legal, Andrey Tugarin, stated at the Blockchain Forum 2026 that the Central Bank’s proposed legislative changes overlook the existence of cold wallets. The lawyer suggested that relevant amendments might be proposed by the second reading of the changes.
The Association of Banks of Russia has initiated a proposal to ease the requirements for transferring cryptocurrency purchased in Russia to personal non-custodial wallets—at least during a transitional period, which would last until the summer of next year.
