Russia opens crypto market to public with new rules set for 2026 implementation

Russia's central bank has unveiled a proposed framework to legalize and regulate cryptocurrency trading for both retail and qualified investors, with implementation planned by 2027. While recognizing digital currencies and stablecoins as 'monetary assets' that can be bought and sold, they explicitly cannot be used for domestic payments. Ordinary citizens can trade crypto via regulated platforms, subject to an annual purchase limit of 300,000 rubles (about $3,300) if they pass a risk-awareness test; qualified investors face no volume caps but must pass a knowledge assessment. Privacy-focused cryptocurrencies remain banned. The framework also grants legal status to crypto services offered by existing Russian financial firms and permits residents to purchase crypto abroad using foreign accounts, provided they adhere to mandatory tax reporting, marking a shift from previous stances. The central bank continues to warn investors that crypto carries significant risks, including volatility and sanctions exposure.

(Source：CoinDesk)