Russia Proposes Rules for Regulated Crypto Trading with September 1 Launch

Russia's central bank has proposed draft rules for regulated crypto trading, aiming to launch it on September 1. The proposed rules cover crypto exchanges, custodians, and investor access, requiring licenses and up to ₽250 million in capital. Retail investors will be capped at ₽300,000 per platform each year after a risk test.

Crypto payments remain banned under the evolving Russia crypto regulation framework. Potential spillover effects on BTC flows are also being considered. The central bank's proposal is part of efforts to balance the need for regulatory clarity with concerns about potential risks and illicit activity.