[Russia to Allow Banks to Conduct Cryptocurrency Business, but Strict Restrictions Will Be Imposed] According to Cryptopolitan, Vladimir Chistyukhin, the First Deputy Governor of the Central Bank of Russia (CBR), revealed at the Finopolis forum that the Russian central bank has decided to allow banks to conduct cryptocurrency business but will introduce strict capital limits and reserve requirements. Chistyukhin admitted, 'We hold a conservative stance. We are considering, for example, whether including cryptocurrencies on the balance sheet truly falls within the scope of banking operations.' However, he also acknowledged, 'After discussions with the professional banking community, we believe it may not be unreasonable to allow banks to participate in such activities.' Chistyukhin further noted that the Russian central bank hopes to pass comprehensive legislation regulating cryptocurrency investments next year. This would enable authorities to implement a licensing mechanism, with the expectation that the first licensed service providers could enter the market by the end of the year. Chistyukhin's call for the swift approval of appropriate cryptocurrency legislation has received support from his superior, the Governor of the Central Bank of Russia, Elvira Nabiullina.