Russia officially legalizes cryptocurrency circulation

Russia has officially legalized the circulation of cryptocurrencies, recognizing digital assets as property under a new law signed by President Vladimir Putin. This landmark legislation, effective September 1, 2026, establishes the first set of rules for the turnover of digital assets in the country.

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The document recognizes digital assets as property and establishes rules for their circulation for the first time.

Under the new law, Russians can legally buy and sell cryptocurrencies through regulated Russian exchanges, brokers, management companies, and crypto exchangers. The Bank of Russia will oversee and control the digital currency market. Crypto exchangers must register in a special registry and maintain a minimum capital of 15 million rubles, with a transition period until July 1, 2027.

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Russians will be able to legally buy and sell cryptocurrency through Russian exchanges, brokers, management companies, and crypto exchangers.

However, the law maintains a ban on using cryptocurrency for payments for goods and services within Russia. Exceptions include settlements for foreign trade contracts between residents and non-residents, mining remuneration, network fees, and the purchase of securities, digital rights, and other cryptocurrencies. Non-qualified investors will face an annual limit of 300,000 rubles for cryptocurrency purchases from a single intermediary, while qualified investors will have no such restrictions, though both categories must pass a test.

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Crypto exchangers will have to enter a special registry and have their own funds of at least 15 million rubles.

Trading will be restricted to cryptocurrencies listed by the Central Bank, requiring a market capitalization of at least 5 trillion rubles and an average daily turnover of 1 trillion rubles. Banks will be obligated to reject transfers to "unauthorized recipients" suspected of illegal cryptocurrency exchange, a provision that will be implemented later. The law aims to bring order to the burgeoning crypto market while maintaining strict controls.

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Paying for goods and services with cryptocurrency in Russia will still be prohibited.