Putin Signs Landmark Legislation Regulating Russia's Cryptocurrency Market
Russia has taken a significant step in regulating its cryptocurrency market by passing a new law that governs digital asset activities nationwide. President Vladimir Putin signed the legislation, which introduces structured oversight across cryptocurrency exchanges, custodians, brokers, investors, clearing organizations, and other market participants.
The law permits regulated investing but maintains the ban on using cryptocurrencies for domestic commercial transactions. Retail investors in Russia can purchase approved liquid cryptocurrencies through registered intermediaries, subject to an annual investment limit of 300,000 rubles (approximately $3,700). Qualified investors face no investment limits once they meet regulatory requirements.
The legislation also introduces stricter operating standards for crypto exchanges, requiring them to register with a special government registry, maintain minimum equity of 15 million rubles (around $185,200), and join an approved financial market self-regulatory organization before offering cryptocurrency trading services.