Russia's Cryptocurrency Law Takes Effect, Regulating Digital Asset Market
Russia's comprehensive cryptocurrency law officially took effect on September 1, creating a regulated framework for buying, selling, holding, and intermediating digital assets nationwide.
The new law, Federal Law No. 282-FZ, replaces significant parts of Russia's previous digital-asset regime and recognizes cryptocurrencies as property that can circulate through regulated financial infrastructure.
Retail investors will be permitted to transact in cryptocurrencies through intermediaries, but access comes with significant restrictions. They must pass a knowledge test before purchasing cryptocurrency and are initially limited to the most liquid assets approved by the Bank of Russia.
The central bank has proposed an annual purchase ceiling of 300,000 rubles through each intermediary for non-qualified investors.