- Russia plans phased crypto rules to legalize use, boost oversight, and allow institutions by 2026.
- Both retail and qualified investors can buy crypto, but limits and rules differ.
- Crypto payments remain banned domestically, but cross-border use and stablecoins gain acceptance.
Russia is preparing to formally regulate cryptocurrencies, moving them out of a legal gray area and into the country’s financial system. Authorities have confirmed that a phased regulatory framework will be introduced through 2026, allowing individuals and institutions to legally use digital assets under defined rules.
For years, Russia treated crypto with warnings or outright skepticism. That stance is now changing.
Lawmakers and regulators have confirmed that a legal framework for cryptocurrencies is being drafted by the State Duma, with input from the Bank of Russia. The framework is expected to be ready by July 1, 2026, with penalties for illegal crypto activity taking effect from 2027.
What Russia Is Actually Allowing
Under the proposed framework, both qualified and unqualified investors will be allowed to buy crypto assets, but under different conditions.
Unqualified investors:
- Will face investment limits, currently proposed at 300,000 rubles per year
- Must pass basic risk-awareness tests
- Will be restricted to the most liquid cryptocurrencies
Qualified investors:
- Will also need to pass mandatory testing
- Will be allowed to buy most crypto assets without limits
- Will be barred from privacy-focused coins that fail AML checks
According to legal experts, assets like Bitcoin and Ethereum are expected to be included, while anonymous coins such as Monero and Zcash will likely be excluded.
“The Central Bank will most likely compile a list of the top 5 or 10 most traded cryptocurrencies on major crypto exchanges. These will definitely include BTC and ETH. They might also add SOL or TON, given their popularity in our country. The rest are only for qualified investors,” one expert said.
Crypto Still Not Legal Tender
Despite the broader acceptance, Russian authorities remain firm on one point: cryptocurrencies will not be allowed as a means of payment inside the country.
However, digital assets and stablecoins may be used for foreign economic activity, particularly in cross-border transactions. Legal experts say this could allow stablecoins to function as a form of “digital dollar” for companies operating internationally.
Additionally, crypto activity will be allowed only through licensed intermediaries. Residents will also be allowed to buy crypto abroad using foreign accounts, but such transactions must be reported to tax authorities.
Mining Comes Out of the Shadows
The proposed legislation also aims to legalize and regulate crypto mining, an industry that has operated in a gray zone for years.
According to lawmakers, miners will be given a path to operate openly, with clear rules and responsibilities. Separate penalties may be introduced for illegal mining and intermediary activity, including possible criminal liability.
Related: Russia Drafts Bill to Expand Crypto Trading for Retail Investors
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