Putin Signs Russia's First Comprehensive Crypto Regulatory Framework

Russia's President Vladimir Putin has signed into law a comprehensive framework for regulating cryptocurrencies. The new law aims to bring clarity and order to Russia's digital asset industry, which had been operating under limited and unclear rules.

The legislation sets clear guidelines for the creation, storage, circulation, and record-keeping of cryptocurrencies and digital financial assets. It also introduces regulations for crypto exchanges, brokers, and mining operations, requiring companies to be listed in a special state register before offering exchange services.

Only companies with at least 15 million rubles ($187,000) in capital will be allowed to run cryptocurrency exchanges. Businesses already operating must complete their registration by July 1, 2027. The law also explains what constitutes a crypto exchange and requires companies to regularly buy and sell cryptocurrencies on their own behalf outside organized trading.

The new framework opens the door for more people to legally invest in cryptocurrencies, with retail investors allowed to buy only the most liquid cryptocurrencies through licensed intermediaries. However, they will be limited to purchases worth 300,000 rubles ($3,700) each year.