Russia Enacts Broad Crypto Law with Strict Limits on Retail Investors

Russia has approved its first comprehensive legal framework governing digital currencies, creating clear rules for exchanges, custody providers, mining, and investors. The legislation introduces operating standards across the crypto sector while keeping domestic cryptocurrency payments prohibited.

The law defines operating standards for crypto exchanges, digital depositories, brokers, clearing organizations, and digital financial asset issuers. It also regulates cryptocurrency mining, custody, accounting, and the circulation of foreign digital instruments.

Crypto exchange operators must join a dedicated registry to continue offering services, but existing operators may continue working without registration until July 1, 2027. The legislation requires exchange providers to maintain at least 15 million rubles in equity and to join a financial market self-regulatory organization.

Retail investors face annual purchase limits of 300,000 rubles through each approved intermediary, while qualified investors may buy any cryptocurrency without those limits after meeting suitability requirements. Experienced crypto traders can qualify for professional investor status based on previous trading activity.