Crypto news

The Russian retail investor is on the verge of a tectonic shift. Market experts agree: buying cryptocurrency and digital financial assets (DFAs) directly through banking apps is a matter of the near future. However, the key debates are not about the fact itself, but about the form, timeline, and impact on the existing shadow market of exchangers.

What will the retail investor get?

The most conservative scenario was voiced by Yaroslav Kabakov, Strategy Director at Finam Investment Company. In his opinion, access through banking apps is inevitable, but it will primarily concern DFAs, not classic cryptocurrencies. Direct Bitcoin purchases remain questionable due to strict compliance requirements and regulatory restrictions.

Roman Nosov from BCS World of Investments urges waiting for the final version of the cryptocurrency bill. Recall that the Bank of Russia initiated it, expecting the document to be adopted in the second reading by the end of July. This will be the trigger for the entire process.

Fyodor Ivanov, Director of AML/KYT Analytics at the operator SHARD, based on the current version of the document from the State Duma website, is confident that retail investors will definitely gain long-awaited access to digital assets.

Two poles: beginners and pros

The most detailed picture was presented by Alexander Nam from MTS Fintech. He segmented Russian retail clients into two fundamentally different categories.

For beginners, simplicity, trust, and security are critically important. A banking app will be an ideal gateway for them into the world of digital currencies. They won't have to figure out crypto wallets and seed phrases on their own. In this segment, banks have a huge advantage due to their broad audience, recognizable brand, and familiar interface.

Experienced traders, on the contrary, prefer to work directly with exchanges and DeFi protocols. For them, key factors remain favorable exchange rates, high liquidity, and minimal fees. In this niche, banks are unlikely to compete successfully if access to international platforms is available.

Key differences between the groups:

• Beginners need security, a convenient bank interface, and no complex cryptographic keys.
• Professionals value anonymity, minimal costs, and access to global liquidity pools.

Who will be first to start?

According to Alexander Nam, all market participants have equal starting opportunities. However, large banking organizations 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 notes that almost all major financial organizations in the country have already announced plans to introduce cryptocurrency services. Once clear rules of the game emerge, small regional banks will also join the trend. For them, this is an excellent opportunity to offer a new service and generate additional income. Currently, the sector's development is solely constrained by regulatory risks.

Gray market of exchangers: collapse or transformation?

Banks will be able to significantly reduce the share of the shadow sector, believes Yaroslav Kabakov. However, they will not be able to completely eliminate gray exchange points.

Alexander Nam shares this view. The positions of illegal players will noticeably weaken in the mass segment, provided convenient and profitable banking products emerge. At the same time, the professional audience will continue to choose anonymity and access to global liquidity pools.

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

Conclusions

All experts agree: retail access to digital assets through banks will become a reality immediately after the adoption of the cryptocurrency bill. Roman Nosov expects important developments by the end of July.

At the same time, Yaroslav Kabakov believes that it will primarily concern DFAs, not classic cryptocurrencies. Alexander Nam, in turn, emphasizes the importance of segmentation: banks will easily replace exchangers for beginners but will lose the battle for professionals.

The speakers assess existing barriers differently. Yaroslav Kabakov and Fyodor Ivanov highlight regulatory risks, while Alexander Nam points to a shortage of specialized personnel.

Regarding the future of the gray market, opinions fully coincide. Banks will push out illegal exchangers in the mass segment but will not eliminate them completely.

Cryptalist comment: We are witnessing a classic institutionalization process. Banks will not replace crypto exchanges, but they will become a bridge for millions of conservative users. The key question is not when, but how quickly the regulatory framework will allow banks to offer truly competitive products, rather than just "cryptocurrency with restrictions." For now, DFAs seem a more realistic scenario than full-fledged Bitcoin trading.