Summary Russia has introduced a comprehensive legal framework for cryptocurrencies, regulating exchanges, investment and digital transactions while retaining restrictions on crypto payments for goods and ser
MOSCOW (Dunya News) - Russian President Vladimir Putin has signed legislation establishing a comprehensive legal framework for the use and circulation of cryptocurrencies and digital financial rights in the country.
The new law brings cryptocurrency exchanges, digital asset depositories and other related businesses under a formal regulatory framework, while introducing rules governing cryptocurrency investments by individuals and businesses.
Under the legislation, companies will only be permitted to provide cryptocurrency exchange services if they are included in a special state register. Existing operators will have until July 1, 2027, to complete the required registration process.
Crypto payments remain restricted
Despite formally regulating the cryptocurrency sector, Russia will continue to prohibit the use of cryptocurrencies as a means of payment for goods and services within the country.
The law also prohibits advertising cryptocurrency payments for domestic transactions.
However, certain exceptions have been introduced. Cryptocurrency may be used in foreign trade agreements, while crypto obtained through mining and certain specified financial transactions will also be permitted under the new regulatory framework.
The approach reflects Russia's attempt to regulate digital assets without allowing cryptocurrencies to replace the country's conventional payment system.
New rules for investors
The legislation also establishes limits for ordinary investors.
According to the new framework, individual investors will be allowed to purchase recognised cryptocurrencies up to an annual limit of 300,000 roubles.
Investments exceeding that threshold will be restricted to qualified investors, who are subject to different regulatory requirements and are considered capable of taking on higher financial risks.
The rules are intended to provide greater oversight of cryptocurrency investment while limiting the exposure of ordinary investors to potentially volatile digital assets.
Banks given powers over suspicious transactions
The new legislation also gives banks additional powers to respond to potentially suspicious cryptocurrency-related transactions.
Banks will be able to suspend or block transfers when they have reasonable grounds to suspect that a transaction is connected with illicit cryptocurrency activity.
The measure is expected to strengthen financial monitoring and help authorities address risks involving money laundering, fraud and other unlawful transactions.
Law to take effect from September
Most provisions of the new legislation are scheduled to come into force on September 1, 2026.
Some administrative and technical provisions will be introduced gradually during 2027, allowing financial institutions, cryptocurrency operators and regulators additional time to prepare for the new requirements.
The legislation marks a significant shift in Russia's approach to cryptocurrencies by moving the sector towards formal regulation while maintaining restrictions on their use as a domestic payment instrument.
Tags
Russia Crypto Law, Vladimir Putin, Cryptocurrency, Crypto Regulation, Digital Currency, Bitcoin, Crypto Exchanges, Digital Financial Assets, Russia Economy, Crypto Investment, Digital Assets, Blockchain, Cryptocurrency Regulation, Global Finance, Moscow
