Russia plans 2027 rollout for strict crypto exchange licensing law

Russia will vote by June on a strict crypto bill that licenses exchanges, caps retail purchases and bans privacy coins, with limited access to Bitcoin by mid‑2027.

Summary

• Duma to vote by June on a bill licensing all crypto exchanges and punishing unregistered platforms like illegal banks.​
• Retail investors face tests and a 300,000‑ruble yearly cap, while privacy coins and domestic crypto payments stay banned.​
• Stablecoins are allowed for cross‑border trade, with the central bank choosing which coins can list from 2027.

Russian lawmakers are scheduled to vote on a comprehensive cryptocurrency regulation bill by late June, with implementation planned for July 1, 2027, according to Anatoly Aksakov, chair of the Financial Market Committee in the Russian State Duma.

The proposed legislation would establish registration requirements for all cryptocurrency exchanges and impose strict operational standards. Platforms operating without approval would face penalties comparable to those for illegal banking activity, including substantial fines and potential prison sentences, according to the bill’s provisions.

The legislation would impose restrictions on retail investors, requiring individuals to pass a qualification test before purchasing cryptocurrencies. Annual purchases would be limited to 300,000 rubles, approximately $4,000, according to the proposed terms. Legislators cited investor protection as the rationale for the purchase caps.

Russia aims at targeting privacy-focused cryptocurrencies in new bill

Privacy-focused cryptocurrencies would face restrictions under the bill, and digital currencies would remain prohibited for domestic payments within Russia, according to the proposal.

The legislation would permit stablecoins for foreign trade and cross-border payments while maintaining the ban on cryptocurrency payments within Russia’s borders. The bill would grant the Central Bank of Russia authority to determine which cryptocurrencies can be legally traded, representing a shift from the central bank’s earlier position supporting a complete prohibition of cryptocurrencies.

Development of cryptocurrency regulation in Russia has been delayed for several years due to disagreements between the finance ministry and the central bank, according to reports. Increased demand for alternatives to dollar-based payments and investment options has driven regulators toward the current compromise framework.

If approved, the law would provide both retail and institutional investors with limited access to Bitcoin and other approved digital assets by mid-2027, according to the bill’s timeline.