Russia’s State Duma has passed comprehensive cryptocurrency legislation establishing a fully licensed digital asset market by mid-2027. The new framework mandates that all crypto exchanges, custodians, and service providers secure operating licences before 1 July 2027, after which unlicensed cryptocurrency trading inside Russia will effectively be prohibited. Banks must reject transfers outside the authorised system from that date.
The law takes primary effect on 1 September 2026, introducing tiered investor access. Retail participants face annual limits of RUB 300,000 per intermediary and can only trade Bank of Russia-approved liquid cryptocurrencies after suitability testing. Qualified investors undergo testing but have no purchase caps. Banks, brokers, and asset managers can offer crypto services under strict prudential standards.
Critically, while domestic crypto payments remain banned, exporters and importers gain unrestricted access to use cryptocurrency for cross-border settlements through any wallet type, signaling continued Russian efforts to bypass Western financial sanctions.
FXnCO Insight
Crypto firms targeting the Russian market must immediately begin licence application processes, while international payment providers should prepare compliance frameworks for Russia’s expanding cross-border crypto settlement infrastructure before September 2026.
Source: Finance Magnates