The Central Bank of the Russian Federation approves margin trading rules: all investors will gain access to leverage.
The Bank of Russia has officially published a draft regulatory act governing margin trading of cryptocurrencies and digital rights. This is a landmark step towards forming an organized market for digital assets in the country. The document proposes that leveraged transactions will become available to both qualified and unqualified investors, fundamentally changing the regulator's previously stated restrictive approaches.
According to the draft, a broker will be able to open a margin position for a client only if an official risk rate for that asset has been established by the trading organizer. The combination of crypto assets and digital rights into a single position is permitted exclusively within a single technological platform or information system.
Two Levels of Coverage and Risk Categories
The document introduces two key risk coverage standards: when executing client orders and when the value of their portfolio changes. The broker is obliged to monitor these indicators to prevent the occurrence of uncovered positions exceeding established limits. Essentially, this is standard risk management practice adapted to the specifics of volatile digital assets.
Clients will be divided into categories depending on their risk level. An individual will be assigned to an elevated or standard level if the amount of their assets with the broker reaches 3 million rubles, or 600 thousand rubles if they have a certain trading history. This is a reasonable compromise: the regulator does not cut off retail investors but requires a minimum entry threshold.
Evolution of Regulation: From "Super-Qualified" to Mass Access
Previously, access to trading was discussed only for "super-qualified" investors with assets of 100 million rubles or more. However, the Central Bank and the Ministry of Finance abandoned this idea at the end of 2025. As a result, all qualified investors will be allowed to trade, and unqualified investors will be able to purchase the most liquid coins after passing testing.
Also previously considered was an annual limit for beginners of up to 300 thousand rubles through a single intermediary. However, such strict quantitative restrictions are absent in the current draft, indicating a softening of the regulator's position.
The legal framework for the market was built in stages: the law "On Digital Financial Assets" was adopted back in the summer of 2020, mining was legalized in 2024, and the Central Bank prepared a comprehensive regulatory concept only at the end of 2025. The foundation of the market became the law "On Digital Currencies and Digital Rights," which recognizes cryptocurrencies as property with judicial protection of rights, and appoints the Bank of Russia as the regulator responsible for registries of crypto exchangers and digital depositories.
Comments on the draft will be accepted until August 12. The directive itself will come into force 10 days after official publication, and the launch of the organized market is scheduled for September 1, 2026.
Analyst's Comment: The publication of these rules is a crucial signal for the market. The Central Bank of the Russian Federation is gradually but consistently moving from complete denial to creating a legal infrastructure. Margin trading is a high-risk instrument, and its legalization with proper regulation could attract both institutional and retail players to the market. However, investors should remember the high volatility of digital assets and carefully assess their risks when using leverage.