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Russian President Vladimir Putin has signed a broad new law regulating cryptocurrency trading and digital assets. The framework allows regulated crypto trading for retail and qualified investors while keeping Russia’s ban on using cryptocurrency to pay for goods and services.
Most provisions will take effect on September 1, 2026. The law covers crypto exchanges, custodians, brokers, clearing organizations, mining businesses and other digital asset companies.
Retail Crypto Trading Gets a 300,000 Ruble Limit
Retail investors will be allowed to buy the most liquid cryptocurrencies through licensed intermediaries. The Bank of Russia says purchases will be capped at 300,000 rubles per year through one intermediary, while the list of eligible cryptocurrencies has not yet been disclosed.
Qualified investors will not face the same annual purchase cap and will have access to a broader range of cryptocurrencies. Both retail and qualified investors will have to pass a knowledge test, while previous crypto trading experience can help investors qualify for qualified-investor status.
Crypto Payments Remain Banned in Russia
The law continues to prohibit cryptocurrency and digital rights from being used to pay for goods and services within Russia. Advertising that promotes crypto as a domestic payment method will also remain prohibited.
The framework still permits certain crypto transactions tied to foreign trade, mined assets and other specifically authorized digital asset activity. Crypto can be used for settlements under foreign trade contracts between Russian residents and non-residents, while separate exceptions apply to mined cryptocurrency and certain digital asset transactions.
Putin previously described digital currencies as a promising economic area and said Russia needed “to seize the moment” to develop its legal framework and infrastructure. That comment came when he signed legislation legalizing cryptocurrency mining in August 2024.
Crypto Exchanges Face Registration Rules
Only organizations included in a special state registry will be allowed to operate cryptocurrency exchanges. Registered exchanges must maintain at least 15 million rubles in capital and join a financial market self-regulatory organization.
Existing operators have a transition period before the new registration requirements fully apply. Banks will also have to reject transfers when they suspect an unauthorized business is providing crypto exchange services.
The new framework follows earlier Russian laws covering cryptocurrency mining, taxation and experimental crypto settlements in foreign trade. It adds rules for trading, custody and other crypto market activities to Russia’s existing framework for mining, taxation and foreign-trade settlements.
