Russia is set to introduce its first comprehensive regulatory framework for cryptocurrencies, allowing legal trading of Bitcoin and other digital currencies. According to local sources, the draft law will be presented to the parliament by the end of June for approval and, if passed, will come into effect on July 1, 2027. This law will permit both accredited and non-accredited investors to participate in the crypto market. Retail investors will be allowed to purchase cryptocurrencies with set limits, capped at 300,000 rubles (approximately $3,900) per year for non-accredited investors, who can only buy cryptocurrencies deemed the “most liquid” by regulators. Professional and accredited investors will have no restrictions on buying and selling, though privacy-focused tokens like Monero and Zcash will remain banned due to concerns over identity transparency and anti-money laundering compliance.
According to Moscow-based lawyer Alexandra Fedotova, the Central Bank will compile a list of the five to ten most popular cryptocurrencies for retail investors, including Bitcoin and Ether, with possible additions like Solana and Ton; other cryptocurrencies will be restricted to accredited investors. The law will also permit Russian citizens to purchase Bitcoin abroad and transfer it to local platforms, provided they report it to tax authorities. Additionally, there are proposals to regulate stablecoins separately to grant them legal status for international trade.
Beyond trading, the new regulations will govern issuance, mining, and circulation of cryptocurrencies but will maintain the ban on their use for domestic payments, consistent with the Central Bank’s earlier stance. The framework will also introduce financial, administrative, and potentially criminal penalties against illegal crypto activities. Existing licensed exchanges and brokers will be allowed to continue operations, while unregistered or illegal platforms will need to obtain new licenses to operate legally. This move marks a significant shift in Russia’s crypto policy, aiming to create a regulated and secure environment while controlling and limiting cryptocurrency usage within the country.
Source: bitcoinmagazine
