Crypto news

The Russian market is on the verge of landmark changes. Leading experts agree that buying cryptocurrencies and digital financial assets (DFAs) directly through mobile banking apps is not a matter of "if," but "when." However, the debate revolves around specific timelines, implementation forms, and whether traditional financial institutions can fully displace the shadow exchange sector.

What Awaits the Retail Investor

Yaroslav Kabakov, Director of Strategy at IC "Finam," holds the most cautious forecast. In his view, banks will initially start offering DFAs to clients. Direct purchases of cryptocurrencies, like Bitcoin, will remain in question due to strict compliance requirements and current regulations.

Roman Nosov from "BCS World of Investments" advises waiting for the final version of the cryptocurrency bill. The initiative to integrate digital assets into banking apps was proposed by the Bank of Russia, and its adoption in the second reading is expected by the end of July. This document will serve as the trigger for the entire process.

Fyodor Ivanov, Director of AML/KYT Analytics at operator "SHARD," is confident that retail investors will guaranteed access to digital assets. He bases this on the current version of the document posted on the State Duma website.

Two Categories of Users

Alexander Nam from MTS Fintech presented the most detailed market analysis. He divided retail clients into two clear segments:

• Beginners — for them, simplicity, brand trust, and security are critically important. They won't have to deal with seed phrases and wallets. The banking interface will become the ideal gateway into the world of digital currencies. In this segment, banks have a massive advantage due to their broad audience and familiar UX.
• Experienced Traders — this group prefers to work directly with exchanges and DeFi protocols. For them, key factors remain favorable exchange rates, high liquidity, and minimal fees. Banks are unlikely to successfully compete for this audience if access to global platforms is available.

Who Will Be First at the Start

According to Nam, all market participants start with equal opportunities. However, large banks with developed brokerage infrastructure will be able to scale their business much faster. The main obstacle for them remains the lack of deep expertise in blockchain technologies.

Fyodor Ivanov agrees with this. He notes that virtually all of the country's largest financial organizations have already announced plans to implement crypto services. As soon as clear rules of the game emerge, small regional banks will also join the trend, for whom this will be an excellent opportunity to generate new revenue. Currently, the sector's development is solely constrained by regulatory risks.

The Gray Market of Exchangers: Collapse or Transformation?

Experts' opinions on the future of illegal exchange points are fully aligned: their share will decrease, but they will not disappear completely.

Yaroslav Kabakov believes that banks will significantly push out the shadow sector. Alexander Nam adds that the positions of illegal players will noticeably weaken in the mass segment, provided convenient and profitable banking products emerge. However, the professional audience will continue to choose anonymity and access to global liquidity pools.

Fyodor Ivanov reminds us of the legal consequences of the reform. After the law comes into effect, the activities of unlicensed points will become criminally and administratively punishable. Large exchangers will be able to legalize by obtaining special licenses, although they will have to compete with banks.

Conclusions

All experts are unanimous: retail access to digital assets through banks will become a reality immediately after the bill is adopted. Yaroslav Kabakov emphasizes DFAs rather than classic cryptocurrencies. Alexander Nam highlights the importance of segmentation: banks will easily replace exchangers for beginners but will lose the battle for professionals.

The main barriers are regulatory risks and a shortage of specialized personnel. Nevertheless, the future of the gray market is predetermined: its share will shrink, but complete elimination will not occur.

Cryptalist Analyst's Opinion: The integration of cryptocurrencies into banking apps is a logical and inevitable step in the evolution of the financial system. However, it is important to understand that for banks, this will not so much be a Bitcoin service as a tool for retaining their customer base and commission income. Genuine competition with professional crypto exchanges is unlikely within the current regulatory paradigm. Banks will occupy the niche of "cryptocurrency for dummies," and this is perhaps the most positive scenario for mass adoption.