Overview
- The Bank of Russia submitted a framework that would let retail and qualified investors trade cryptocurrencies under defined tests and controls.
- Retail buyers could purchase only highly liquid tokens after a knowledge test, with an annual cap of 300,000 rubles (about $3,800) through a single licensed intermediary.
- Qualified investors would face no volume limits after a risk‑awareness test, though privacy‑focused tokens would remain prohibited.
- Digital currencies and stablecoins would be recognized as monetary assets for trading, yet their use for domestic payments would stay banned.
- The plan channels activity through existing licensed exchanges, brokers and trustees, permits overseas purchases with tax reporting, extends rules to DFAs on open networks, targets legislation by July 1, 2026, and introduces liability for unlicensed intermediation from July 1, 2027.