Russia Approves First Comprehensive Crypto Rulebook, Caps Retail Trading at About $3,800 a Year
AI Market Summary
Russia's State Duma passed its first comprehensive crypto market law, creating licensing and registry requirements for exchanges and custodians and compelling banks to block suspected unregistered platforms. While the framework adds legal clarity and judicial protection for holders, strict retail access rules—including an annual ~$3,800 trading cap per intermediary—may constrain local demand. Transitional provisions allow unregistered operations until July 1, 2027.
Impact level
● Medium
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● Neutral
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Russia's State Duma has passed legislation creating the country's first broad regulatory framework for cryptocurrencies, ME News reported on July 21 (UTC+8). Most provisions are set to take effect on Sept. 1.
The new law establishes legal requirements for cryptocurrency exchanges, custodians and other digital-asset service providers, and spells out who can buy crypto and under what conditions. Only organizations included in a dedicated registry will be allowed to operate as crypto exchanges, though existing firms can continue operating without registration until July 1, 2027.
Banks will be required to block transfers if they suspect an unregistered entity is running a crypto exchange. The legislation also grants judicial protection to digital-currency holders, regardless of whether the assets were previously declared.
Retail investors will be permitted to buy the most liquid cryptocurrencies via licensed intermediaries, with an annual trading cap of roughly $3,800 per intermediary. Qualified investors will be able to purchase any cryptocurrency without limits. (Source: Foresight News)
