Russia's largest bank is set to launch a crypto wallet as the country clears a path for market participation. Non-qualified investors will be able to trade under testing requirements with annual limits of approximately 300,000 rubles ($3,800). Market participants have until July 1, 2027, to register officially. This development follows a complex history of crypto regulation in Russia. Despite initial resistance from the Bank of Russia, which called for a ban on crypto activities in 2022, the government has moved towards regulation. The Finance Ministry advanced a bill allowing licensed trading while maintaining a ban on crypto payments. In 2024, Russia legalized crypto mining and introduced an experimental cross-border settlement regime. The Moscow Exchange is expanding into cryptocurrency with cash-settled futures contracts, and major banks like VTB and T-Bank are developing digital depositories. These moves indicate a significant shift in Russia's approach to cryptocurrency, aligning with broader global trends.