Russia Passes Groundbreaking Crypto Regulation Law Amid Sanctions Relief

Russia has made significant strides in regulating its digital asset market by passing the On Digital Currency and Digital Rights bill. This comprehensive law will govern various aspects of cryptocurrency, including licensing for exchanges, brokers, custodians, and depositories.

The Bank of Russia will oversee compliance and maintain registries of approved market participants. Organizations not listed in the registry will be prohibited from engaging in digital currency exchange activities.

Retail investors will face annual purchase limits of approximately 300,000 rubles (around $3,800) through licensed intermediaries. Qualified investors are exempt from these restrictions.