Legalization of Cryptocurrency Operations from 1st July 2026

The Russian government has submitted a package of bills to the State Duma aimed at regulating digital currencies and digital rights. The documents, among other things, introduce strict requirements for crypto market intermediaries and limits for non-qualified investors.

Key Provisions of the New Regulation

1. Intermediaries – Licensed Only. Only brokers who are professional securities market participants will be allowed to conduct digital currency transactions as intermediaries. Organizers of cryptocurrency trading will be required to obtain an exchange or trading system license.
2. Central Bank of Russia as Main Regulator. The Bank of Russia will oversee the industry. Existing banks, brokers, and participants in experimental legal regimes will be allowed to operate under simplified rules.
3. Cryptocurrency Will Not Be Recognized as a Means of Payment. The only exception is foreign trade transactions. Domestic operations by residents will only be permitted through regulated participants.

What Will Be Allowed for Residents

• Purchase digital currencies abroad
• Make payments from foreign accounts
• Transfer cryptocurrency acquired through Russian intermediaries abroad

Residents will be required to notify the Federal Tax Service of Russia about any foreign operations.

Limits for Non-Qualified Investors

Citizens without qualified investor status will only be able to purchase the most liquid digital currencies from the Bank of Russia’s list. Conditions include:

• Mandatory passing of a special test
• An annual limit of no more than 300,000 rubles per intermediary

Qualified investors will have no amount restrictions.

New Market Institutions

The bill introduces:

• Digital depositories – to record cryptocurrency rights and store asset data
• Crypto exchangers – requiring registration in Russia, inclusion in the Central Bank’s registry, capital requirements, and a license

Liability and Effective Date

Violations of the requirements for handling digital currency and digital rights will result in administrative liability.

Effective date – July 1, 2026 (except for certain provisions).

Purpose of the Initiative

The authors of the initiative expect the new law to provide comprehensive regulation, increase market transparency, establish standards for investor protection, and open up opportunities to attract foreign investment and use digital rights in foreign trade transactions.