Bank of Russia Proposes New Crypto‑Market Regulation Framework

The Bank of Russia announced a draft regulatory concept for the Russian cryptocurrency market, which it has submitted to the government for legislative review. The proposal permits both qualified and non‑qualified investors to purchase crypto assets, with non‑qualified investors limited to 300,000 roubles (about $3830) per year after testing, while qualified investors may trade any crypto except anonymous tokens without volume caps, also after risk‑awareness testing.

The framework classifies digital currencies and stablecoins as “currency values” that can be bought and sold but not used for domestic payments, and outlines licensing requirements for exchanges, brokers and custodians. It also sets reporting obligations for cross‑border crypto purchases and aims to finalize the legal base by 1 July 2026, with enforcement measures for illegal intermediaries starting 1 July 2027.

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🧭 FAQs

• What investment limits apply to non‑qualified investors? Up to 300,000 roubles (about $3830) per year per intermediary after testing.
• When will the new regulatory framework be finalized? The legal base is targeted for completion by 1 July 2026.
• Which crypto assets are prohibited for qualified investors? Anonymous tokens whose smart contracts hide recipient information.
• What reporting is required for cross‑border crypto transactions? Residents must notify the tax authorities when buying abroad or transferring crypto overseas.