Russia's Crypto Law Takes Effect with $3,700 Investor Cap
Russia's new digital asset law has taken effect on September 1, bringing regulated crypto trading nationwide while capping retail investors at roughly $3,700 a year through licensed intermediaries.
The Bank of Russia is now responsible for overseeing licensed crypto intermediaries under the new law. Retail investors in Russia are subject to a 300,000-ruble ($3,700) cap per licensed broker.
The legislation puts Moscow in charge of the country's regulated crypto market, with exchanges, brokers, and custodians required to register as licensed intermediaries and join a financial market self-regulatory organization before serving customers. The central bank also decides which digital assets those intermediaries are permitted to offer.
Retail investors face no restrictions on buying cryptocurrencies through approved channels, but their purchases are capped at 300,000 rubles per year. Qualified or professional investors, however, have no such ceiling.