Russia Enacts Federal Law Regulating Digital Assets and Cryptocurrencies

Russian President Vladimir Putin has signed into law a federal bill regulating digital assets and cryptocurrencies. The law, Federal Law No. 282-FZ, covers the circulation, accounting, and storage of digital assets, as well as their mining, issuance, and exchange.

The law establishes rules for operators of cryptocurrency exchanges, digital asset custodians, brokers, investment companies, trading platforms, and clearing houses. It requires these entities to register with a special registry and meet minimum capital requirements of 15 million rubles (approximately $2.86 million).

The law also prohibits the use of cryptocurrencies as a means of payment within Russia, but allows their use for cross-border transactions under certain conditions.