Russia Issues First Comprehensive Crypto Law, Capping Retail Investor Purchases
Russia has put in place its first comprehensive regulatory framework for the cryptocurrency market after President Vladimir Putin signed a law governing the broader digital-asset sector.
The new law requires crypto exchanges to maintain at least 15 million rubles, or about $185,000, in capital and register with authorities. It also mandates that they join a self-regulatory organization for the financial market.
Retail investors will be allowed to buy only highly liquid crypto assets, with annual purchases capped at 300,000 rubles, or about $3,700, through each intermediary such as an exchange. Qualified investors, on the other hand, will have no purchase limits and can invest in all crypto assets.
The law takes effect on September 1, but some provisions will be phased in over time. Existing exchanges will have a grace period until March 1, 2027, to comply with the new rules.