Putin Signs New Law Regulating Cryptocurrencies in Russia

Russian President Vladimir Putin has signed a new law regulating cryptocurrencies in Russia. The 'On Digital Currencies and Digital Rights' law establishes comprehensive rules for the circulation of digital currencies, including Bitcoin.

The law defines four basic concepts: the circulation of digital currencies, organization of the circulation of digital currencies, circulation of digital rights, and organization of the circulation of digital rights.

The Central Bank will be responsible for overseeing the activities of organizers of the circulation of digital currencies. The law also allows banks to restrict money transfers and payment acceptance if there are signs of illegal organization of digital currency circulation.

The regulations will come into force on September 1, 2026.