Putin Signs Landmark Crypto Law in Russia, Allowing Retail Investment and Regulated Trading

Russian President Vladimir Putin has signed a landmark crypto law that regulates cryptocurrency exchanges and allows retail and qualified investors to buy cryptocurrencies through certified financial intermediaries.

The rules apply to various entities, including crypto exchanges, digital depositories, brokers, asset managers, organized trading platforms, and clearing providers. However, the ban on using cryptocurrency as a payment method remains in place.

Starting from September 1, 2026, non-qualified investors will be permitted to purchase only approved crypto-assets that are deemed the most liquid by regulators. Investors must pass a suitability test before purchasing up to 300,000 rubles' worth of crypto-assets through each intermediary annually.

Qualified investors can trade virtually any amount of cryptocurrency as long as they pass a test. Market operators must comply with licensing and capital requirements, including registration in a special register, holding at least 15 million rubles in equity capital, and being a member of a self-regulatory organization of the financial market.

Providers and digital depositories may continue their activities without registration until July 1, 2027. Minimum capital requirements for digital depositories vary between 50 million and 250 million rubles, depending on the services they provide.