Russia Opens Up Crypto Trading but Keeps it Contained

Russia has announced a new framework for cryptocurrency trading, allowing users to buy and sell Bitcoin, Ether, and Tether (USDT) on official Russian exchanges. The move is set to take effect from September 2026.

The framework restricts the use of cryptocurrencies within Russia, allowing them only for cross-border transactions. This means that Russians can use cryptos like Bitcoin to pay for imports or receive payments for exports, but not for domestic transactions.

The Central Bank says this dual approach allows Russia to harness decentralized technology while protecting its economy from hyperinflation and capital flight. By restricting local use of cryptocurrencies, the authorities aim to preserve the Ruble's monopoly and maintain control over monetary policy.

Under the new framework, both retail and professional investors will be required to pass a test before trading major cryptos. Retail investors will have limits on their annual purchases, but accredited investors can buy cryptos without restrictions.