Russia's First Comprehensive Crypto Law Is Two Votes Away From Passing
Russia’s lower house is set to approve its first comprehensive crypto law, pending Senate approval and Putin’s signature. The bill creates a licensing regime for exchanges, brokers, and custodians, with the Bank of Russia issuing permits and able to block assets seen as a financial-stability risk. Only large, established cryptocurrencies would be legal for broad trading; in practice this currently means Bitcoin and Ethereum, with possible additions later. Regular investors face a yearly cap of 300,000 rubles through one licensed intermediary, while qualified investors have no cap. Privacy coins such as Monero, Zcash, and Dash are banned. Crypto cannot be used for domestic payments; it is allowed only for international trade and sanctions-related settlement. Unlicensed platforms will be fully banned from July 1, 2027.
