Russia plans to cap retail crypto buys at $4,000 as it brings digital assets into the legal fold
Russia plans to finalize crypto regulations by midyear, limiting retail purchases to $4,000 while legalizing trading for qualified investors.Summary
Russian lawmakers intend to have comprehensive cryptocurrency regulations ready by June, effective July 1, 2027, bringing digital assets into the legal framework. Anatoly Aksakov, head of the State Duma Committee on Financial Markets, stated that both qualified and unqualified investors will be permitted to purchase cryptocurrencies, though under different rules. A cap of 300,000 rubles (approximately $4,000) is being discussed for retail investors' crypto purchases. Qualified investors, however, can buy unlimited quantities of most assets after passing a mandatory risk test, excluding anonymous coins. The framework will also impose penalties for illegal intermediary activities similar to those for illegal banking. While Russia's central bank recognizes digital currencies as monetary assets, they cannot be used for domestic payments. Furthermore, the central bank is expected to compile a list of permitted cryptocurrencies for trading, which will likely include BTC and ETH, while explicitly banning privacy coins like Monero, Zcash, and Dash due to anti-money laundering concerns.
(Source：CoinDesk)