Russia Sets Sept 1 Target for Crypto Law, 2027 Full Compliance

Russia's central bank said a new crypto regulatory law could take effect Sept. 1, with a transition period through 2027 for full compliance. The Bank of Russia said in a press event that the date is a target, not a guaranteed deadline.

Full compliance will not be required until 2027, giving exchanges and custodians time to align operations, the central bank said. Russia has ruled out legal tender status for Bitcoin and Ether, the bank reiterated.

The phased approach allows time for licensing and supervisory infrastructure, according to the press event. CoinDesk earlier reported Russia planned to roll out rules by 2027 while excluding crypto as legal tender.

The Bank of Russia is also examining digital financial assets on public blockchains, a separate track from the broader market regulation. The legislation still faces procedural steps before formal enactment.