Putin signs law establishing regulatory framework for cryptocurrency trading in Russia

Russian President Vladimir Putin signed a landmark law establishing a regulatory framework for cryptocurrency, set to take effect on September 1, 2026. The law permits regulated retail trading with a 300,000-ruble ($3,700) annual cap per intermediary, while qualified investors face no limits. Crypto exchanges must join a special registry and meet a 15-million-ruble ($185,200) equity requirement. Crucially, the law maintains the domestic ban on crypto payments but permits cross-border settlements for foreign trade.

Russia cryptocurrency regulatory framework

• ▪Russian President Vladimir Putin signed a landmark law establishing a regulatory framework for the cryptocurrency market in Russia.
• ▪Certain provisions of the Russian cryptocurrency law governing the issuance and circulation of crypto assets will come into force on September 1, 2027.
• ▪The Russian cryptocurrency regulatory legislation is scheduled to take effect on September 1, 2026.

Retail investor purchase caps

• ▪The Russian state-run news agency TASS report did not specify which cryptocurrency assets qualify as the most liquid for retail investment.
• ▪Under the 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 with no 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

• ▪Crypto 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 crypto exchanges to comply with the new regulations.
• ▪Crypto exchanges operating in Russia must join a financial market self-regulatory organization under the new law.

Cross-border crypto settlement policy

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

Domestic payment ban maintained

• ▪The Russian cryptocurrency law maintains a strict ban on using cryptocurrencies as a means of payment or legal tender for goods and services domestically.
• ▪The domestic ban on using cryptocurrency as a means of payment within Russia is maintained while the law establishes rules for exchanges, custodians, brokers, and clearing houses.