Russia's Cryptocurrency Market Takes Shape with New Regulations
Russia has introduced new regulations for its cryptocurrency market, which took effect on September 1, 2026. The law sets legal boundaries but a practical system still needs to be built, according to Kirill Pistsov, Head of Product Development at FG 'Finam'. This includes trading platforms and digital depositories, as well as settlements, compliance, and client products.
The transition period for participants will last until July 1, 2027. During this time, companies need to set up storage, settlements, compliance, and client products. A capital threshold of 50 million rubles has been set for digital depositories, with a wider range of functions increasing the capital requirements.
The emergence of digital depositories is a key challenge in Russia's cryptocurrency market. These depositories will account for rights to crypto assets, similar to regular depositories that account for securities. For clients, this means separate regulated accounting circuits, where transactions and storage are not mixed together.