Russia’s first comprehensive legal framework for cryptocurrency trading, custody and cross-border settlements took effect on Sept. 1, 2026, bringing regulated market access under Bank of Russia supervision. President Vladimir Putin signed the legislation on Aug. 4 after the State Duma passed it in second and third readings in July.
The law covers cryptocurrency exchanges, digital depositories, brokers, management companies, organized trading platforms and other financial institutions involved in digital asset transactions. Non-qualified investors can buy up to 300,000 rubles worth of eligible cryptocurrencies annually through each intermediary after passing a suitability test, while qualified investors can trade without the same purchase cap after completing testing requirements.
Eligibility criteria for retail investors consider market capitalization, average daily trading volume and pricing history on foreign platforms, with an asset required to have at least five years of price history. Bitcoin, Ether and Tether’s USDT were among the assets the Bank of Russia proposed for regulated trading in August.
Domestic crypto payments for ordinary goods and services remain prohibited, but exporters and importers can use cryptocurrency for cross-border settlements without an amount limit. Crypto exchanges must enter a special register, hold at least 15 million rubles in equity and join an approved financial-market self-regulatory organization. Digital depositories face capital standards between 50 million and 250 million rubles depending on services offered.
The Bank of Russia provided a transition period until July 1, 2027, for market participants to obtain licenses. Sberbank plans to have cryptocurrency trading infrastructure and a digital depository ready by Dec. 1, while Alfa-Bank has tested cryptocurrency trading through its Alfa-Investments brokerage application with a limited group of qualified investors. Major banks also began giving clients access to digital ruble transactions on Sept. 1.
