Putin Signs Law Regulating Russian Crypto Exchanges Amid Ongoing Payment Ban

Russian President Vladimir Putin has signed a law regulating digital currencies and exchanges in the country.

The new law allows only registered entities to operate as exchanges, with limits on the amount of crypto retail investors can use.

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

The law maintains a ban on using digital currencies as payment or legal tender within Russia, but permits their use for settlements under foreign trade contracts and in crypto mining.