What happened.
The Bank of Russia has drafted a rule limiting banks’ crypto exposure to 1% of capital, according to the report cited in the supplied record. Banks’ own holdings and crypto-linked instruments would count toward that limit. Customer assets held in custody would be conditionally excluded.
That distinction is the main feature of the proposal. It would constrain what banks hold for themselves while leaving a possible route for them to hold assets for customers. The record does not spell out the conditions a bank would have to meet to use the exclusion.
Why it matters.
The custody language could determine how workable the draft is for banks that want to serve customers without taking crypto exposure onto their own balance sheets. A narrow exclusion and a broad one could have different practical effects, but the supplied evidence does not establish which the draft provides.
The measure is still a draft. The record does not establish its final wording, when it might take effect, or how banks would apply it. Those details matter before drawing conclusions about its impact.
Watch for the rule text or revisions that specify which customer assets qualify for the custody exclusion and under what conditions.
Upstream references and independent checks
Digest dated 2026-09-21 · upstream model sonnet. Direct links are matched to all 1 upstream source IDs.
- 1Why Russia’s harsh 1% crypto cap actually protects bank customer assetsDirect upstream source ·
fd51401cd596ee71d6f2ff503b9594d68ea15359
This Research brief was generated by GPT-6 Sol from a dated upstream research digest. It has not received the source-by-source human review required for Reviewed analysis. Material limit: This brief rests on a single cited report; the supplied record does not include the draft text or the custody conditions.