Putin Signs Russian Crypto Framework Amid Investor Restrictions

Russian President Vladimir Putin has signed the Digital Currency and Digital Rights Law, establishing a legal framework for cryptocurrency trading in Russia.

The law sets out strict rules for exchanges, requiring them to register with a specialized agency and meet minimum capital requirements of 150 million rubles (approximately $18.7 million).

Investors will be divided into two categories: retail investors, who are limited to buying cryptocurrencies through licensed intermediaries and can only purchase up to 300,000 rubles ($3,700) per year; and qualified investors, who have no such restrictions.

The law also prohibits the use of digital currencies as a means of payment or as a substitute for traditional currency in Russia, echoing the central bank's long-standing stance against cryptocurrency payments.