TL;DR
- Russia’s Central Bank expects the regulatory framework for the crypto market to be completed before year-end.
- Twenty-seven subordinate acts are being prepared, covering licensing, registries and digital depositories.
- Bitcoin, Ethereum and USDT are already designated for access by non-qualified investors under a ₽300,000 annual limit. The framework could bring more institutional crypto activity under formal rules.
Russia’s crypto market is moving closer to a formal legal framework after the Central Bank said the necessary regulatory acts could be completed before the end of 2026. The shift would give exchanges, brokers and digital-asset infrastructure providers clearer rules for operating in the country.
Russia’s Crypto Market Moves Toward Legal Operation
Central Bank First Deputy Governor Vladimir Chistyukhin said on Sept. 21 that Russia’s crypto industry could begin operating legally before the end of the year if the remaining regulatory work stays on schedule. According to Interfax, regulators are preparing 27 subordinate acts, including seven first-tier measures and 20 second-tier rules.
The framework covers important infrastructure such as registries, qualification requirements, digital depositories and a whitelist of eligible assets. Chistyukhin said six of the seven initial acts had already been sent to the Justice Ministry, with the remaining measure expected to follow soon. The second-tier regulations are planned for adoption by the end of October.
The development follows Russia’s cryptocurrency law, which entered into force on Sept. 1. The Bank of Russia says the framework allows qualified and non-qualified investors to trade cryptocurrencies through intermediaries while creating a regulated structure involving crypto exchanges and digital depositories.
Access Rules Open A New Market
For non-qualified investors, the regulator has set a ₽300,000 annual purchase limit through a single intermediary and initially identified Bitcoin, Ethereum and Tether’s USDT among the assets available under the public-access rules. Qualified investors can trade cryptocurrencies offered through exchange and over-the-counter markets without an amount limit, although investors must complete testing and review the risks before trading.
The rules also give financial institutions a clearer path into digital assets. In July, the Bank of Russia published requirements for digital depositories, including minimum capital ranging from ₽50 million to ₽250 million depending on their activities. It has also proposed rules for cryptocurrency margin trading, adding crypto to existing risk-control frameworks used by brokers.
The broader regulatory push could make Russia’s crypto infrastructure more accessible to banks, exchanges and professional investors while maintaining restrictions on domestic crypto payments. Cross-border settlements involving cryptocurrency are permitted under the new framework, creating another potential use case for digital assets.
