Russia Takes Cautious Approach to Regulating Crypto Market

Russia is taking a cautious approach to regulating its massive cryptocurrency market, opting not to set fixed targets for how much of it should be brought under legal rules. Instead, officials will observe how the newly regulated market functions before deciding what comes next.

Speaking at the Moscow Financial Forum, Deputy Finance Minister Ivan Chebeskov said the priority is building a working, regulated market that shows who is offering crypto services, what risks they carry, and whether client protections actually hold up in practice.

The government has lowered the minimum capital requirement for non-bank crypto exchanges from 30 million rubles to 15 million rubles, giving smaller exchanges a chance to stay in business. The regulated market could go live before the end of 2026, pending completion of 27 regulatory rules, including seven major ones and 20 smaller ones.