Russia Legalizes Crypto, Sees Potential for $40 Billion in Regulated Trade

Russia's new 'digital currency' law comes into force on September 1, allowing non-professional investors to access digital assets like Bitcoin (BTC) and Ethereum (ETH).

The legislation expands access to cryptocurrencies while imposing restrictions on domestic crypto payments.

Under the law, cryptocurrency will be used as an investment instrument inside Russia's economy and a payment tool for cross-border transactions with foreign-based partners.

Russian residents will be able to acquire digital coins through intermediaries licensed by the Bank of Russia, but only up to 300,000 rubles' worth annually per intermediary.

The law also recognizes crypto assets as property that can be transferred, inherited, and divided in case of divorce.