Regulation· ★★★· neutral·

Russian pawnshops ask central bank to allow bitcoin-backed loans

  • —Neolombard has asked the Bank of Russia to allow bitcoin-backed loans, its third attempt since 2023
  • —The central bank noted pawnshops cannot combine lending with crypto exchange or custody
  • —Neolombard estimates Russians could pledge crypto worth roughly 3 trillion rubles
  • —Market participants say legislative amendments are needed for the scheme to work
Why it matters: Approval would make crypto a collateral asset in traditional lending, though price and custody risks remain unregulated.
Source: BeInCrypto RU