Putin Signs Law for Regulated Crypto Exchanges in Russia

Russian President Vladimir Putin has signed a law to regulate digital currencies and digital rights in Russia. The new law allows only registered entities to operate as exchanges, putting limits on the amount of crypto that retail investors can use.

Retail investors are capped at trading most liquid cryptocurrencies worth up to 300,000 rubles ($3,700) per year. Qualified investors have no restrictions, according to reports.

The law prohibits digital currencies and digital rights as a means of payment or legal tender within Russia, echoing the country's ban on using crypto for payments since 2022.