Cryptocurrency is ceasing to be an isolated financial world. Starting September 1, 2026, Russian brokers and asset management companies will receive the legal right to act as intermediaries in digital asset transactions. This is a key step toward integrating bitcoin into traditional investment infrastructure, and it is already enshrined at the regulatory level.
Previously, an investor had to open a separate account on a crypto exchange, independently handle transfers, custody, and taxes. Now the scenario is fundamentally different: you will be able to buy bitcoin in the same place you buy stocks and bonds — in the familiar interface of a brokerage app.
Brokers Don't Need Their Own Crypto Exchange
The new regime does not require brokers to create a Binance equivalent. They already have a client base, funds in accounts, KYC procedures, mobile apps, and reporting. All that is missing is the final link — crypto liquidity and custodial storage. A logical model looks like this: a client buys BTC in a regular brokerage app, while a specialized crypto partner handles trade execution, liquidity, and custody. A similar scheme already works successfully at Interactive Brokers, where Paxos and Zero Hash perform this function.
For a broker, this approach is significantly faster than building a full-fledged crypto exchange. The client, meanwhile, will not have to move to a separate financial ecosystem and deal with wallets, networks, and transfers. Crypto exchanges will not disappear anywhere: they are objectively stronger in assortment, liquidity, derivatives, and complex products. An active trader who needs perpetual futures, hundreds of tokens, or DeFi will remain on a specialized platform.
Brokers Will Bring a New Client to the Market
There is also another, potentially larger segment — an investor who needs BTC or ETH as 5–15% of their overall portfolio. For them, the broker's value is not in the number of tokens, but in the fact that cryptocurrency becomes part of the same portfolio that already holds stocks, bonds, and gold. This is no longer just buying a coin, but full-fledged portfolio logic: rebalancing, unified analytics, risk management, and using crypto assets as collateral. The Bank of Russia is already working on rules that will allow movement in this direction.
I would not frame the question as "who will win — brokers or crypto exchanges." The market will split: active crypto traders will remain on specialized platforms, while the mass investor who needs a small share of cryptocurrency may well move to a broker. Then the main competitive advantage will be not the commission or the number of coins, but the simplicity of access. The ability to open a familiar app, sell some bonds, and buy BTC without moving to a separate infrastructure — that is what will matter most to the mass client.
That is precisely why the arrival of brokers can change the market more than it seems: they will bring not a new token there, but a new type of client.
My conclusion: the integration of cryptocurrency into traditional brokerage services is not just convenience, but a fundamental shift toward the mainstream. When bitcoin becomes available in the same window as stocks, the entry threshold for conservative investors will drop sharply, and this could be a trigger for a new round of institutional adoption.