Hassan Maishera
TL;DR
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Russian President Vladimir Putin has signed a law establishing a regulatory framework for cryptocurrency trading and custody.
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Retail investors can purchase qualifying liquid cryptocurrencies, subject to an annual cap of 300,000 rubles per intermediary.
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Qualified investors can buy any crypto assets without investment limits.
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Crypto exchanges must register, meet minimum capital requirements and join a self-regulatory organization.
Russian President Vladimir Putin has signed legislation establishing a comprehensive regulatory framework for the country’s cryptocurrency market, according to state-run news agency TASS.
The law introduces rules covering crypto exchanges, custodians, brokers, clearing houses, investors and other industry participants. However, it preserves Russia’s ban on using cryptocurrency as legal tender or as payment for domestic goods and services.
The legislation represents a significant shift in Russia’s treatment of digital assets, bringing cryptocurrency trading under clearer government supervision while creating separate rules for retail and qualified investors.
Russia Caps Retail Crypto Investments
Under the new framework, retail investors will be permitted to purchase the most liquid cryptocurrencies, subject to an annual limit of 300,000 rubles, approximately $3,700, through each intermediary.
The TASS report did not identify which cryptocurrencies will qualify as sufficiently liquid under the rules.
Retail investors will also need to complete a special suitability assessment before purchasing digital assets. Individuals may obtain qualified-investor status based partly on their previous cryptocurrency transaction history.
Qualified investors will face fewer restrictions. They will be permitted to purchase any crypto assets without investment limits, although they must also pass the required suitability testing.
Cryptocurrency exchanges operating in Russia will be required to join a special government registry.
Registered exchanges must maintain minimum equity of 15 million rubles, or approximately $185,200. They will also need to become members of a financial-market self-regulatory organization.
The requirements are designed to establish formal operating standards for digital-asset platforms and bring their activities within the country’s existing financial oversight structure.
Existing crypto exchanges will receive a transition period until March 1, 2027, to comply with the new rules.
Domestic Crypto Payments Remain Prohibited
The legislation continues to prohibit the use of cryptocurrency to pay for goods and services within Russia. Digital assets will therefore remain outside the country’s official domestic payment system.
However, the framework allows cryptocurrency to be used in cross-border settlements involving foreign trade contracts between Russian residents and non-residents.
Russia reportedly began permitting crypto-based international trade settlements in 2024 as it sought alternative payment channels amid Western financial sanctions.
Most of the legislation will come into force on September 1, 2026. Certain provisions covering the issuance and circulation of cryptocurrency assets will take effect one year later, on September 1, 2027.
The phased implementation is expected to give regulators and market participants time to establish the necessary registration, compliance and supervisory systems.
Russia’s State Duma passed the legislation last month after the bill cleared its first reading in April. Its approval marks a notable change from the country’s previously fragmented approach to cryptocurrency regulation.
The law builds on regulatory work by the Bank of Russia. The central bank recently published draft regulations outlining the country’s first framework for the organized trading of digital assets and digital rights.
Those proposals include operating requirements for cryptocurrency exchanges and digital depositories, supporting the government’s broader effort to bring the sector under formal supervision.
