Russia Drafts Bill That Could Change Who Can Buy Crypto

Russia is preparing a landmark legal transformation that would expand who are qualified to buy and own cryptocurrencies in the country. Reports have disclosed that lawmakers in the State Duma are in the final phase of text meant to lower barriers for ordinary Russians, even as they keep safeguards and restrictions in place.

The draft bill has drawn attention because it marks a shift from years of strict limits. According to TASS, the proposal would take cryptocurrencies out of a special financial regulation regime so they become a more common part of financial life for people across Russia. Lawmakers say this could make buying and holding crypto something regular citizens do, instead of a privilege for a few.

“A bill has already been prepared that removes cryptocurrencies from special financial regulation, which means, they will be a common occurrence in our lives,” Anatoly Aksakov, chair of the State Duma’s Financial Market Committee, said.

Expanded Access With Caps

Under the current text, people who are not considered “qualified investors” would be able to buy digital coins up to a certain limit. The figure mentioned is 300,000 rubles per year, which is roughly $3,800. This cap aims to let more Russians participate in crypto while trying to prevent big losses if prices swing wildly.

Ordinary buyers would still face conditions. Reports say they will have to meet some basic criteria or checks before gaining access, such as passing a short risk‑awareness step and trading only through licensed brokers or exchanges. This is meant to keep unregulated peer‑to‑peer trading from dominating.

Professional or qualified market players would face fewer limits. They could trade and hold a wider range of cryptocurrencies with no annual restrictions, though they may still have to demonstrate understanding of risks.

Legislative Push And Timing

Lawmakers have said the draft is ready and will be discussed during Russia’s spring parliamentary session. If the State Duma passes the bill, implementation could start later in 2026. Aksakov told state media that this move could make crypto “a normal part of life” for many Russians.

At the same time, Russian regulators continue to work on other crypto rules. The Bank of Russia has said it plans to set out penalties for illegal crypto intermediaries starting in 2027 and is pushing for a wider regulatory framework that covers both qualified and ordinary investors.

Balancing Risk And Use

Russia still bans using cryptocurrencies to pay for goods and services within the country, a rule in place since 2021. Officials say the new bill would not change that. Instead, the focus is on investment and holding, not daily spending.

Featured image from Unsplash, chart from TradingView