Cryptocurrency under supervision
A new bill being considered in the State Duma introduces regulation of cryptocurrencies in Russia. Starting July 1, 2026, digital currency will be recognized as property, and a network of professional intermediaries, including exchanges and brokers, will be created for its circulation.
Investors will be tested to access cryptocurrency, and unqualified investors will only be able to purchase liquid digital currencies listed by the Central Bank.
Cryptocurrency will be allowed in all transactions except as a means of payment.
Banks will be prohibited from transferring funds to foreign crypto exchanges without Russian intermediaries, but residents will be able to purchase cryptocurrency abroad and report this to the tax authorities.
Criminal liability is planned for the illegal circulation of cryptocurrency, with the amendments coming into force on July 1, 2027.
The advantages of the new regulation include investor protection, transparent rules, and the possibility of legally using cryptocurrency. However, restrictions for unqualified investors and a ban on working with unlicensed platforms may discourage some users.
Forecasts show potential growth for the crypto market in Russia, with trading volumes ranging from 0.8 trillion to 16 trillion rubles by 2028. Overall, a moderate market is expected, but a true crypto boom is not yet expected.
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