Russia Tightens Crypto Regulations with New Law Effective Sept 1

Russian President Vladimir Putin has signed into law a comprehensive bill that brings the country's cryptocurrency market under formal regulatory oversight. The legislation, which takes effect on September 1, establishes a legal framework for crypto exchanges, custodians, mining operations, and the issuance and circulation of digital financial assets (DFA).

The new law mandates that crypto trading operators register with a self-regulatory organization (SRO) and maintain a minimum capital of 15 million rubles ($187,000). However, operators are granted a transition period until July 1, 2027, to comply with the registration requirement.

Retail investors will be able to buy highly liquid cryptocurrencies through registered intermediaries, but with an annual limit of 300,000 rubles (approximately $3,700) per firm. Qualified investors, on the other hand, face no such restrictions.