Central Bank opened access to the regulated crypto market: three contours and capital from 15 million - www1.ru

The Central Bank has opened access to the regulated crypto market through a framework built around three contours, according to www1.ru. Participation is tied to a minimum capital threshold of 15 million, signalling that entry is reserved for institutions and qualified participants rather than retail investors.

The three-contour structure matters because it suggests the regulator is segmenting access by type of activity or participant, rather than applying a single blanket rule. In practice, such designs typically separate who may hold, trade, or service crypto-related instruments — a distinction that shapes both compliance costs and the range of products that can be offered.

What to watch: whether the contours are defined by licence type, investor category, or scope of permitted operations, and how the 15 million capital floor is calculated. Clarity on these points will determine which firms can realistically enter, how quickly institutional liquidity develops, and whether the regulated market remains a closed circuit or becomes a bridge to broader finance.