Overview
- Non‑qualified investors would face a 300,000‑ruble annual cap per intermediary, a mandatory knowledge test, and access only to the most liquid tokens.
- Qualified investors could buy any non‑anonymous cryptocurrency without volume limits after passing a risk‑awareness assessment.
- Digital currencies and stablecoins would be recognized as monetary assets for trading, with domestic payment use remaining prohibited.
- All transactions would be routed through licensed exchanges, brokers, and trustees, with extra rules for custodians, and residents could buy abroad with tax reporting.
- The Bank of Russia targets legislative adoption by July 1, 2026 and liability for illegal intermediation from July 1, 2027, as MOEX and SPB say they are ready to launch once rules are finalized.