⬛The Bank of Russia has outlined crypto as a systemic threat in its policy roadmap “Main Directions for Financial Market Development 2026–2028.” The regulator warns that cryptocurrencies and stablecoins, lacking unified standards, could fuel a shadow economy, facilitate illicit activity, and erode the effectiveness of enforcement due to their decentralized nature.
⬛The report also highlights the danger of domestic currency substitution by digital surrogates, which could undermine financial stability and expose investors to risks given the absence of guarantees or accountable issuers. While no concrete measures have yet been proposed, the central bank plans to refine its approach and launch systematic monitoring of mining infrastructure starting in 2026.