The Bank of Russia has warned crypto companies about the challenges of entering the regulated Russian market. According to First Deputy Governor of the Bank of Russia Vladimir Chistyukhin, it will be most difficult for companies that have not previously operated within the legal financial sector or interacted with regulators to enter this framework.

The statement is directed at participants in the crypto industry planning to operate in the Russian crypto market and highlights the importance of having experience in legal operations and engagement with regulators when entering the regulated segment.