Bank of Russia Sets 2026–2027 Timeline to Regulate Crypto and Penalize Illegal Brokers

The Bank of Russia has submitted a draft framework to the government that would create a complete legal regime for cryptocurrency usage by July 1, 2026, and introduce penalties for illegal crypto intermediaries by July 1, 2027. The plan differentiates between qualified and non-qualified investors, imposes annual purchase limits and mandatory testing, bans domestic crypto payments, and allows certain cross-border and foreign digital asset transactions under reporting requirements.