Russia’s State Duma has approved a broad crypto market law that allows regulated digital asset services and keeps domestic crypto payments banned.
Russia Sets New Crypto Market Rules
Russia’s State Duma passed legislation creating the country’s first broad framework for cryptocurrency exchanges, custodians, brokers, and other digital asset providers. Most provisions are scheduled to take effect on September 1, 2026.
The law creates a special registry for approved crypto market operators. Firms may continue operating without registration until July 1, 2027, giving existing platforms time to meet the new requirements.
Banks must refuse transfers if they suspect an unauthorized company is operating as a cryptocurrency exchange. The rule gives Russian lenders a larger role in blocking unlicensed crypto activity.
The law also grants judicial protection to digital currency holders, even when those assets were not previously declared. That measure gives crypto owners a legal route to defend their holdings in court.
Retail investors will be allowed to buy the most liquid cryptocurrencies through licensed intermediaries. Their annual purchase limit will be about 300,000 rubles, or roughly $3,800, per intermediary.
Qualified investors will face fewer limits and may buy a wider range of crypto assets. The Bank of Russia will supervise the market structure and set detailed rules for licensed participants.
Foreign Trade Gets Crypto Settlement Route
The law does not allow Bitcoin or other cryptocurrencies to be used for ordinary domestic payments. Russians still cannot use crypto to pay for groceries, goods, or services inside the country.
Banks and financial companies are also banned from advertising or promoting crypto payments. The ruble remains the main payment unit for domestic commerce.
However, the framework preserves a route for crypto use in foreign trade. Russian companies may use approved digital assets for certain cross-border settlements between residents and non-residents.
That exception arrives as sanctions keep pressuring Russian trade channels. The European Union said, “Russia is becoming increasingly reliant on cryptocurrencies for international transactions.”
The law also covers crypto mining, issuance, circulation, and services provided by brokers, asset managers, trading platforms, and clearing houses. These provisions bring several parts of the market under formal oversight.
Russian banks are already preparing for regulated crypto activity. Sberbank plans to introduce a crypto wallet and digital asset custody services after the framework begins.
VTB, T-Bank, Moscow Exchange, and Alfa-Bank have also been preparing custody, trading, and digital asset infrastructure. Alfa-Bank has tested crypto trading with a limited group of eligible investors.
Global Crypto Rules Move Faster
Russia’s move comes as other major markets advance crypto legislation. Japan enacted a law on July 15, 2026, reclassifying cryptocurrencies as financial products rather than settlement tools.
Japan’s reform opens the door for spot crypto ETFs, adds insider-trading rules, and lowers the maximum crypto tax rate from up to 55% to a flat 20% by 2028.
Vietnam also issued Decree No. 284/2026/NĐ-CP, which sets fines of up to 50 million dong for investors who trade on unlicensed platforms. The decree gives regulators new enforcement tools as Vietnam builds its digital asset market.
The European Union’s MiCA transition window closed on July 1, 2026. That means remaining gray-area exemptions have ended, and MiCA now applies across EU member states.
Source: X
In the United States, attention remains on the CLARITY Act. The probability of the bill passing reportedly rose to 52% after progress on ethics language.
Sen. Kevin Cramer said the bill is getting clearer as each issue is addressed. He added that there is now some agreement on ethics language and said, “I think we’re almost there.”
