Key facts
- Russia's State Duma passed its first comprehensive cryptocurrency law.
- The law establishes a legal framework for crypto exchanges, depositories, and other digital asset providers.
- Retail investors will face an annual purchase limit of approximately $3,800 per licensed intermediary.
- Qualified investors can purchase crypto without restrictions.
- Crypto is permitted for foreign trade settlements but banned for domestic payments.
- The new regulations are set to take effect on September 1, 2026.
Russia's State Duma has approved its first comprehensive cryptocurrency law, establishing a legal framework for digital asset providers and setting rules for who can buy crypto and under what conditions. The legislation, which requires President Vladimir Putin's signature to become law, will come into full force on September 1, 2026, with a transition period for firms until July 1, 2027.
The new law permits the use of digital currencies in foreign trade settlements and for certain other transactions, including those involving mined cryptocurrency and payments required by digital asset platforms. However, it maintains a ban on using crypto for domestic payments for goods and services and prohibits banks from advertising crypto payments. Retail investors will be subject to an annual purchase limit of approximately $3,800 per licensed intermediary, while qualified investors will have no restrictions. The law also regulates crypto mining activities and ensures judicial protection for digital currency holders.
This regulatory move follows the European Union's imposition of significant sanctions against Russia in April, which specifically targeted crypto activities. The EU stated that Russia is becoming increasingly reliant on cryptocurrencies for international transactions.