The Russian overview of the cryptocurrency legal framework to be implemented starting in 2026

Strengthen discipline, but relax restrictions conditionally.

Cryptocurrency exchanges in Russia outline the crypto legal framework to be implemented starting in 2026

The Central Bank of Russia has just announced a new legal framework proposal for cryptocurrencies, expected to be implemented from 2026 and fully completed by 2027, marking a significant shift in Moscow’s tough stance on digital assets.

According to the proposal, both individual and institutional investors can access cryptocurrencies through licensed platforms, but must pass knowledge tests, adhere to trading restrictions, and face strict penalties for violations.

The Central Bank of Russia emphasizes that openness does not mean encouraging speculation. The agency also warns that cryptocurrencies are not issued or guaranteed by any country, are highly volatile, and face risks of international sanctions.

In a statement, the Central Bank of Russia said: “Investors need to understand that when deciding to invest in crypto assets, they will bear all the risks of loss.”

One of the reiterated core boundaries is that cryptocurrencies and stablecoins are recognized only as monetary assets; they can be bought, held, and traded, but cannot be used as a means of payment domestically. Clearly, even if Russia accepts cryptocurrencies as investment tools, it remains committed to maintaining the ruble’s exclusive position in its domestic payment system.

Under the proposed framework, ordinary Russian citizens can buy and sell cryptocurrencies through licensed intermediaries. The annual limit for non-professional investors to purchase cryptocurrencies through each intermediary is 300,000 rubles (approximately $3,300), provided they pass a risk awareness test. Professional investors have no quantity limit, but applicants must still meet knowledge and financial capacity assessment requirements.

Recent reports indicate that the Central Bank of Russia is considering establishing a more detailed investor tiering system based on income, assets, and experience, similar to stock market management models. Meanwhile, cryptocurrencies focused on privacy and capable of hiding transaction data remain fully prohibited.

The new legal framework grants legal status to cryptocurrency services provided by existing Russian financial institutions (including banks, brokerage firms, exchanges, and asset management companies), provided these operate within their current licensing scope. However, the role of banks will be limited by capital, reserve, and risk control requirements, aiming to prevent cryptocurrencies from becoming systemic issues.

At the same time, the Central Bank of Russia is paving the way for a separate regulatory regime for digital asset custodians and wallet providers, laying the foundation for a formal crypto market infrastructure, which Russia has previously avoided.

Another notable change is allowing Russian residents to purchase cryptocurrencies abroad via offshore accounts and then transfer assets to licensed domestic platforms, provided they comply with mandatory tax reporting and declaration obligations.

The proposal also promotes the expanded use of digital financial assets issued by Russia, including their circulation on public blockchain networks and the possibility of opening to foreign investors—an act with geopolitical significance as Russia seeks to diversify its capital acquisition channels.

Market size pressures

Cryptocurrency exchanges in Russia outline the crypto legal framework to be implemented starting in 2026

In fact, as early as 2022, Russia began accelerating the legalization and regulation of cryptocurrencies, aiming to… “circumvent” sanctions imposed by the US and Western countries. This is related to the Ukraine war, which has put pressure on the country’s payment systems.

Russian President Vladimir Putin has emphasized that Bitcoin is a typical example of a deregulated asset class that no one can prohibit. This indicates support for widespread use of cryptocurrencies in international transactions.

Recent reports cited data indicating that about 20 million Russians use cryptocurrencies, with an estimated total holding exceeding 800 billion rubles. Such a large scale is considered one of the main drivers prompting authorities to shift from preventive measures to regulatory ones.

According to the current roadmap, a complete legal framework is expected to be finalized by mid-2026, and from 2027 onwards, any unlicensed cryptocurrency intermediary activities could be considered illegal financial operations and face criminal penalties.

In this context, Russia is also paving the way for its own national cryptocurrency exchange. However, it only serves ultra-rich and professional investors. According to plans confirmed by the Ministry of Finance and the Central Bank, only individuals with financial assets exceeding 100 million rubles (about $1 million) or annual income over 50 million rubles (about $500,000) will be allowed to trade on the platform. **$HBAR **$MOG