Russia's New Crypto Law: Domestic Ban, Sanctions Workaround

Investor-held digital assets are now recognized as legal property. The classification gives them judicial protection even when the holdings were never declared in tax reports.

Crypto exchanges, brokers, digital depositories and clearing houses must register with the Central Bank by July 1, 2027. Anyone whose monthly crypto activity involves two or more transactions and exceeds 3.5 million rubles ($43,700) is treated as operating a business. Licensed operators need to hold at least 15 million rubles ($187,000) in equity and join a financial market self-regulatory organization. Commercial banks can block or freeze funds linked to unauthorized crypto entities.

Mining now counts as a legal economic activity. Mining companies must register with the relevant authorities; individuals can mine without registration as long as their household electricity use stays below government-issued caps. Prime Minister Mikhail Mishustin has separately banned crypto mining around Moscow and in parts of Kursk from Aug. 15, 2026, to Dec. 31, 2032, to prevent a severe power-grid failure.