Putin Signs Law Establishing Regulated Crypto Market in Russia

Russian President Vladimir Putin has signed into law the country's first comprehensive framework governing cryptocurrency markets. The legislation, titled 'On Digital Currencies and Digital Rights,' establishes a regulated cryptocurrency market that will allow Russians to buy and sell digital assets through licensed intermediaries.

The new framework introduces five new categories of regulated market participants: cryptocurrency exchanges, brokers, digital depositories, management companies, and exchangers. These entities must obtain authorization from the Bank of Russia and meet minimum capital and compliance standards before offering services.

The law also formally recognizes cryptocurrencies as property under Russian civil law, granting legal protection for digital assets in areas such as bankruptcy proceedings, inheritance disputes, and divorce settlements.