Putin signs law for regulated crypto trading in Russia

Russian President Vladimir Putin signed a digital asset law on Aug. 4, creating a regulated route for retail and qualified investors to trade cryptocurrencies through approved intermediaries. The core provisions take effect on Sept. 1, 2026, according to TASS and the Bank of Russia.

The law covers crypto exchanges, depositories, brokers and trading venues. It also addresses mining, custody, accounting and foreign digital instruments. It does not recognize cryptocurrency as legal tender for domestic purchases.

Nonqualified investors can buy only cryptocurrencies that regulators classify as the most liquid. They must complete a suitability test and face an annual purchase limit of 300,000 rubles per intermediary, the central bank said. Authorities have not yet published the final list of eligible assets.

Qualified investors must also pass testing, but they may buy and sell any cryptocurrency without an amount limit. Individuals may qualify partly through their previous crypto transaction history, TASS reported. The Bank of Russia needs to issue more detailed standards before intermediaries can apply the rules consistently.

The framework follows the structure lawmakers developed earlier in 2026. The bill’s first reading included regulated intermediaries, mandatory testing and the 300,000 ruble retail ceiling, the central bank said. A later revision removed a proposed requirement for investors to disclose their crypto wallet addresses.

Crypto exchange providers must join a special registry, maintain at least 15 million rubles in equity and become members of a financial market self-regulatory organization. The law defines systematic exchange activity as two or more transactions in one month with a combined value exceeding 3.5 million rubles.

Existing crypto exchange providers may operate without registration until July 1, 2027. This differs from the March 1, 2027 transition granted to digital financial asset exchange operators, which form a separate category under the wider framework, TASS noted.

Banks and Russian branches of foreign banks must block transfers when they suspect an unauthorized digital currency exchange provider is involved. The law grants judicial protection to digital currency holders even when the assets were not previously declared.

The Bank of Russia has started drafting the regulations needed to operate the market. Its July 27 proposals cover organized trading, pricing methods, asset records and digital depositories. Proposed minimum equity for digital depositories ranges from 50 million to 250 million rubles, depending on services provided.