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Russia vs Uzbekistan

Crypto regulation comparison

← Back to map | Russia | Uzbekistan
Russia

Russia

Uzbekistan

Uzbekistan

Partially Regulated
Legal

Russia's crypto regulation is complex and evolving. The 2021 'On Digital Financial Assets' law recognizes crypto as property but bans its use as a means of payment. Mining was legalized and regulated in 2024 under a new mining law. Crypto is taxed as income at 13-15%. The CBR pushed for a total ban on crypto trading but was overruled by the government, which favors regulation. International sanctions have complicated Russia's crypto landscape.

Uzbekistan has actively regulated crypto since 2018, when it established the NAPM (initially NAPCI) to oversee virtual assets. Licensed crypto exchanges operate in a regulatory sandbox. Individual crypto trading profits are exempt from tax. Uzbekistan has also established a state-backed mining pool and licensing regime for miners, leveraging its energy resources.

Tax Type Income
Tax Type None
Tax Rate 13-15%
Tax Rate 0%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CBR (Central Bank of Russia), Ministry of Finance
Regulator NAPM (National Agency for Prospective Projects)
Stablecoin Rules Crypto payments banned; digital ruble CBDC introduced
Stablecoin Rules Regulated under NAPM virtual asset framework
Key Points
  • Digital Financial Assets law (2021) recognizes crypto as property but bans use as payment
  • Crypto mining officially legalized and regulated under 2024 mining legislation
  • Crypto income taxed at 13% (up to RUB 5M) or 15% (above RUB 5M)
  • Domestic crypto exchanges not legally operating; P2P trading widespread. CBR framework Dec 2025 targeting July 2026.
  • International sanctions have increased interest in crypto for cross-border transfers
Key Points
  • NAPM oversees virtual asset regulation and licensing
  • Licensed exchanges operate under regulatory framework since 2018
  • Individual crypto trading exempt from income tax
  • State-backed mining pool and licensing for crypto miners
  • Only licensed platforms can offer crypto services; unlicensed platforms blocked
Sources
Sources