Russia Enacts Sweeping Crypto Regulations, Bans Domestic Use

Russian President Vladimir Putin has signed the Digital Currency and Digital Rights Law, legalizing Russia's first crypto regulation framework. The law will take effect on September 1, 2026, with full licensing and compliance required by July 1, 2027.

The new framework bans the use of cryptocurrencies as domestic legal tender but allows their use in international trade and cross-border settlements to bypass Western sanctions.

Retail investors are restricted to an annual purchase limit of 300,000 rubles ($3,750), while professional investors face no limits on investment amounts or types of digital assets traded. All investors must pass a mandatory knowledge and risk assessment, with professional traders facing a more advanced test.

Additionally, all crypto service providers, including exchanges and brokers, are required to register with the Central Bank by July 1, 2027. Licensed operators must maintain a minimum equity of 15 million rubles ($187,000) and join a financial market self-regulatory organization (SRO).