Russia Unveils New Crypto Laws: Cross-Border Settlements and Investor Rules
Russia is set to introduce new laws governing cryptocurrency transactions, providing Russian companies with greater flexibility for cross-border settlements. According to Anatoly Aksakov, head of the State Duma Committee on Financial Markets, legal entities will be able to use both domestic and foreign infrastructure, including any wallets, cryptocurrencies, and stablecoins.
An intermediary will not be mandatory, allowing businesses to conduct transactions through regulated exchanges and exchangers or directly. Buying digital currency abroad will also be allowed, but operations from foreign accounts must be disclosed to the Federal Tax Service.
The rules for ordinary investors are stricter, with non-qualified clients limited to purchasing Bitcoin, Ethereum, USDT, and other assets from the Bank of Russia's 'white list' - no more than 300,000 rubles per year through each intermediary. Qualified investors will face no such restrictions.