Overview
- The Bank of Russia sent a concept to the government that would open legal crypto trading to retail and qualified investors under a tiered regime.
- Retail buyers could purchase only the most liquid tokens after a knowledge test, capped at 300,000 rubles per year through a single intermediary.
- Qualified investors would face no volume limits after a risk-awareness exam, with anonymous or privacy-focused tokens remaining prohibited.
- Trading must route through licensed exchanges, brokers and trust managers, with additional requirements for crypto custodians and exchange services.
- Digital currencies and stablecoins would be recognized as monetary assets for trading, domestic payment use would stay banned, cross‑border purchases would be allowed with tax notification, and draft laws are targeted for July 1, 2026 with penalties for unlicensed intermediation from July 1, 2027.