Putin signs law establishing regulatory framework for cryptocurrency trading in Russia

Russian President Vladimir Putin has signed a landmark law establishing a regulatory framework for cryptocurrency trading, set to take effect on September 1, 2026. While the law maintains a strict ban on domestic crypto payments, it permits cross-border settlements for foreign trade. Retail investors face an annual purchase cap of 300,000 rubles ($3,700) per intermediary and must pass suitability tests, while qualified investors face no limits. Exchanges must register, hold 15 million rubles in equity, and join a self-regulatory body.

Russia cryptocurrency regulation framework

• ▪The Russian cryptocurrency regulation law is scheduled to take effect on September 1, 2026, with certain provisions on asset issuance and circulation starting on September 1, 2027.
• ▪Russian President Vladimir Putin signed a landmark law establishing a regulatory framework for the cryptocurrency market in Russia.

Retail investor purchase caps

• ▪The Russian cryptocurrency legislation does not specify which digital assets qualify as the most liquid cryptocurrencies available for retail purchase.
• ▪Under the new Russian regulatory framework, retail investors are permitted to purchase the most liquid cryptocurrencies up to a cap of 300,000 rubles ($3,700) per year per intermediary.

Qualified investor status requirements

• ▪Both retail and qualified cryptocurrency investors in Russia are required to pass special suitability testing under the new regulatory framework.
• ▪Qualified investors in Russia are permitted to purchase any cryptocurrency assets without any investment limits under the new law.
• ▪Retail investors in Russia can obtain qualified investor status based on their cryptocurrency transaction history.

Crypto exchange licensing requirements

• ▪Cryptocurrency exchanges operating in Russia must join a financial market self-regulatory organization under the new law.
• ▪Cryptocurrency exchanges in Russia are required to join a special registry and maintain a minimum equity requirement of 15 million rubles ($185,200).
• ▪The Russian cryptocurrency law provides a grace period until March 1, 2027, for existing cryptocurrency exchanges to comply with the new rules.

Cross-border crypto settlement policy

• ▪Russia began allowing cryptocurrency in international trade in 2024 as a mechanism to counter Western sanctions.
• ▪The Russian cryptocurrency law permits cross-border settlements using digital assets for foreign trade contracts between residents and non-residents.

Domestic payment ban maintained

• ▪The Russian legislation continues to prohibit the use of cryptocurrencies to pay for goods and services domestically.
• ▪The newly signed Russian law maintains the domestic ban on using cryptocurrency as a means of payment or legal tender within Russia.