Putin Signs Russia's Crypto Law: Trading Allowed, Payments Still Banned

Russian President Vladimir Putin has signed the country's first comprehensive law governing digital currencies. The legislation sets rules for how crypto is issued, stored, accounted for, and traded, wrapping exchanges, digital depositories, brokers, and clearing houses into one framework.

The law keeps the ban on using crypto as a form of payment for goods and services, but allows trading to take place through licensed intermediaries. Only firms on a state registry may run exchanges after July 1, 2027, with a 15 million ruble ($187,000) capital floor and a self-regulatory body requirement.

The law also guarantees court protection for crypto owners regardless of whether they declared the assets before. Most provisions take effect September 1, except for the exchange registration deadline of July 1, 2027.