Overview
- Retail investors would be limited to approved, highly liquid tokens after a knowledge test, with purchases capped at 300,000 rubles per year via a single intermediary.
- Qualified investors could buy unlimited amounts except for anonymous privacy coins, subject to a risk‑awareness assessment.
- Digital currencies and stablecoins would be recognized as monetary assets for trading but remain banned for domestic payments in Russia.
- All activity would route through licensed exchanges, brokers and custodians, with overseas purchases allowed if reported to tax authorities and transferred through domestic intermediaries.
- The Bank of Russia targets legislative amendments by July 1, 2026, and penalties for unlicensed intermediation starting July 1, 2027, while cautioning that crypto remains a high‑risk asset.