Russia to roll out crypto regulatory framework this July, allowing retail participation: report

Russia is preparing to implement a comprehensive cryptocurrency regulatory framework in July, according to Anatoly Aksakov, head of the State Duma Committee on the Financial Market. The rules are expected to be finalized for voting by the end of June, with full effect beginning July 1, 2027, allowing participation from both qualified and non-qualified investors. Non-qualified traders will face limits, such as being able to purchase only the most liquid cryptocurrencies up to 300,000 rubles ($3,900) annually. Professional traders will have broader access, excluding privacy tokens like Monero and Zcash. The framework also permits Russian traders to buy crypto abroad and transfer it domestically, provided they report the transactions to tax authorities. The Central Bank is expected to list the top 5 or 10 most traded cryptos for retail access, likely including BTC and ETH. Beyond trading, the bill addresses the creation, mining, and distribution of crypto, while reaffirming the ban on using crypto for domestic payments. Existing licensed entities can continue operating, but those in the legal gray area will need new, tailored licenses.

(Source：The Block)