Russia Moves to Regulate the Crypto Market
Russia is finalizing rules for crypto trading, investor access, and international settlements.
Russia’s State Duma is expected to hold the second and third readings of the bill “On Digital Currency and Digital Rights” on July 21. Draft law No. 1194918-8 was recommended for approval at its second reading on July 16. If it receives all the required approvals, its main provisions will take effect on September 1, 2026.
The new law will establish rules for cryptocurrency trading, investor access, and international transactions. Retail investors will be allowed to purchase up to 300,000 rubles—approximately $3,800—worth of digital assets per year through a single regulated entity. International transfers will be limited to 100,000 rubles.
Qualified investors will be subject to higher limits. They will be able to purchase up to 3 million rubles in cryptocurrency and transfer as much as 1 million rubles abroad. Licensed exchanges, brokers, and intermediaries will operate under the supervision of the Bank of Russia.
The Duma approved the bill at its first reading in April. In July, the requirement to disclose cryptocurrency wallet addresses was removed. However, account balances and transaction volumes will still be monitored. Certain large transfers to foreign or third-party accounts may be suspended for up to 48 hours.
Cryptocurrencies will remain prohibited as a means of payment for goods and services in Russia. The legislation will primarily treat them as investment assets and tools for international settlements. Companies involved in exports and imports are expected to gain greater flexibility in this area. Some businesses are already using cryptocurrencies for such transactions under an experimental legal framework.
The regulations were originally scheduled to take effect in July, but amendments and consultations between government agencies delayed the legislative process. According to Ministry of Finance data cited by crypto.news in February, cryptocurrency trading in Russia amounts to around 50 billion rubles, or $640 million, per day. A significant share of these transactions takes place outside the regulated market.
