Putin has legalized cryptocurrency in Russia
Vladimir Putin has signed a law that, for the first time, comprehensively regulates the cryptocurrency market in Russia. The law permits the legal circulation of digital currencies, but at the same time significantly restricts their use and establishes oversight by the Bank of Russia. The new rules will take effect on September 1, 2026.
Russian President Vladimir Putin has signed the law “On Digital Currency and Digital Rights,” which establishes new rules for dealing with cryptocurrencies in the country. The document has already been published on the official portal for legal acts. It will take effect on September 1. The Russian State Duma passed the law on July 21, and the Federation Council approved it on July 24. The president has now signed the document.
Cryptocurrency will be permitted, but using it will not be easy
The new law effectively legalizes the circulation of cryptocurrencies in Russia. At the same time, the authorities are establishing fairly strict rules for this. In particular, making payments with cryptocurrency within Russia will be prohibited. In other words, digital coins can be bought, sold, stored, and accounted for, but using them as regular money to pay for goods or services will not be permitted.
Cryptocurrency transactions must go through a special infrastructure regulated by the Bank of Russia. This infrastructure will include exchanges, brokers, management companies, crypto exchange services, and digital depositories. Thus, the cryptocurrency market in Russia will no longer remain entirely outside state control. On the contrary, the authorities are attempting to bring it into a regulated system where transactions can be tracked and monitored.
Limits will be set for most investors
Specific rules apply to individuals classified in Russia as unqualified investors. Before conducting any transactions, they must pass a special test. This means that a potential investor will first have to confirm that they understand the specifics and risks of working with digital assets.
According to the Bank of Russia, retail investors account for approximately 98% of the crypto market’s participants. A limit will be set for them. Through a single intermediary, they will be able to conduct transactions totaling no more than 300,000 rubles per year. Thus, for most Russians, the ability to trade cryptocurrency will be limited not only by regulations but also by a specific financial threshold.
Crypto exchanges will also be brought into the legal framework
The new law separately defines rules for companies that work with digital assets. In particular, it legalizes the activities of crypto exchanges and digital custodians. However, to operate, they will need to obtain the appropriate licenses and join a system that will be overseen by the Bank of Russia.
A transition period has been provided for market participants. They must obtain the necessary permits by July 1, 2027. In other words, the entirely new system will not take effect immediately. Companies will be given time to adapt to the new rules and complete the necessary paperwork.
Banks will have specific obligations
The law will also affect Russian banks. Financial institutions will be required to refuse transfers to organizations that are not part of the system regulated by the Bank of Russia. In effect, this means that the government wants to restrict cryptocurrency business operations outside the official infrastructure as much as possible. If a company does not have the required status and permits, banks will not be allowed to process transactions on its behalf.
As a result, Russia is simultaneously opening up the cryptocurrency market and tightening its control over it. It will be legal to buy, sell, and hold cryptocurrencies, but they cannot be used for domestic payments, and a significant portion of transactions will go through entities controlled by the Bank of Russia. This is according to reports in the Russian media.
Russian President Vladimir Putin has signed a law that, effective January 1, 2027, will allow government agencies to control price changes for goods and services factored into inflation calculations. The new rules provide for oversight of pricing at all stages—from production to retail sales.
Russian President Vladimir Putin has signed a law that, effective January 1, 2027, will allow government agencies to control price changes for goods and services factored into inflation assessments. The new rules provide for oversight of pricing at all stages—from production to retail sales.
