Russia is preparing one of the most significant changes to its cryptocurrency policy in years. A new law adopted by the State Duma will create a formal regulatory framework for buying, selling and holding cryptocurrencies in Russia from 1 September 2026.
Under the new system, both qualified and ordinary private investors will be allowed to trade cryptocurrencies through regulated intermediaries. Non-qualified investors will first have to pass an investor knowledge test and will be limited to purchases of the most liquid cryptocurrencies worth up to 300,000 rubles per year through each intermediary. Qualified investors will also be tested but will face no investment ceiling and may trade a broader range of cryptoassets.
Russia will also establish dedicated crypto exchanges and digital repositories, alongside brokers, asset managers and organised trading platforms. The rules will apply not only to Bitcoin and other cryptocurrencies but also to foreign stablecoins. Market participants will have a transition period until 1 July 2027 to obtain the required licences.
The most important change for international business concerns cross-border payments. Russian exporters and importers will be permitted to use cryptocurrencies for foreign trade without the previous experimental-regime limitations, including direct wallet-to-wallet transactions. This potentially gives Russian companies another settlement channel for international commerce at a time when access to traditional banking networks remains complicated.
Payments for goods and services inside Russia will remain prohibited. Russian residents holding cryptoassets abroad will also face reporting requirements to the tax authorities.
“However, Moscow is maintaining a clear distinction between cryptocurrency as an investment and international settlement instrument and cryptocurrency as everyday money.”
EuroAsia.News Editorial
Stablecoins are becoming increasingly important in this discussion. The Bank of Russia is separately examining whether Russia needs a dedicated framework for ruble-linked stablecoins, including requirements covering reserves, redemption and issuer stability. At the same time, the central bank continues to oppose their use for payments between Russian residents.
The new approach therefore represents neither a cryptocurrency ban nor complete liberalisation. Instead, Russia is moving toward a state-controlled crypto market in which investment and international settlement are permitted, while domestic monetary circulation remains firmly centred on the ruble.
