Russia Takes Step Toward Mainstream Crypto Adoption With New Bill

TLDR

• Russia plans to introduce a bill that would remove cryptocurrencies from special financial regulation and make them part of general legal framework
• Retail investors would be limited to buying up to 300,000 rubles ($3,800) in crypto, while qualified professionals face no restrictions
• The legislation is set to be introduced during Russia’s spring parliamentary session by Financial Market Committee chair Anatoly Aksakov
• Crypto exchanges operating in Russia could face new regulations to combat scams and create legal framework for operations
• The changes would allow crypto use for international payments and potentially enable Russian digital tokens to be traded in foreign markets

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Russia is preparing legislation to change how cryptocurrencies are regulated in the country. The bill would move digital assets out of special financial regulation into a general legal framework.

Anatoly Aksakov chairs the State Duma’s Financial Market Committee. He told state news agency TASS that the legislation is ready for introduction during the spring parliamentary session.

The bill follows a December proposal from the Bank of Russia. That proposal suggested allowing non-qualified investors to buy certain cryptocurrencies.

Retail Investment Caps and Professional Access

The new legislation would create two tiers of crypto access. Non-qualified investors like retail traders would face a cap of 300,000 rubles, equal to about $3,800.

Professional participants who meet income and education requirements would trade without restrictions. This system aims to balance market access with investor protection.

The Bank of Russia previously proposed a risk-awareness test. This would ensure retail investors understand crypto volatility before trading.

Anonymous and privacy-focused cryptocurrencies would remain restricted. Regulators want to maintain transparency and oversight in the market.

Crypto is currently recognized as property in Russia. Using it for payments is banned domestically.

Many Russians have turned to crypto for international money transfers. This increased after 2022 when sanctions limited traditional banking options.

Aksakov said cryptocurrencies could be actively used for international payments. Russian-issued digital tokens might be placed on financial markets in other countries.

Exchange Regulations Under Discussion

Crypto exchanges in Russia currently operate without regulation. Many platforms left the country due to sanctions.

Anton Gorelkin chairs the State Duma’s Technologies Committee. He is pushing for new rules to govern crypto exchanges.

Gorelkin said scammers use exchanges based in Belarus to target Russians. This makes it hard for authorities to track fraud.

He stated on Telegram that legal conditions for exchanges need to be created. This would allow them to operate properly on Russian territory.

The Bank of Russia relaxed crypto transaction rules for businesses in late 2024. Its December proposal outlined how exchanges, brokers and trusts could manage crypto.

The digital ruble project is also moving forward. A full rollout across state financial systems is expected by September 2026.

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