Russia's new digital asset law took effect on September 1, legalizing regulated cryptocurrency trading nationwide. The legislation, formally Bill No. 1194918-8, cleared the State Duma on July 21 and was signed by President Vladimir Putin in early August.
Under the framework, the Bank of Russia oversees licensed crypto intermediaries, including exchanges, brokers, and custodians. These entities must register with the central bank and join a financial market self-regulatory organization to legally serve customers. The Bank of Russia also determines which digital assets intermediaries are permitted to offer.
Investment Caps and Restrictions
Retail investors face a 300,000-ruble cap, approximately $3,700, per year through any single licensed intermediary. Qualified and professional investors are not subject to this ceiling. The law maintains a long-standing prohibition on using cryptocurrency to pay for goods and services within Russia.
Narrow Opening for International Trade
Beginning September 1, businesses engaged in foreign economic activity are permitted to accept cryptocurrency for goods, works, and services in international trade. This carve-out provides exporters a legal channel to settle cross-border transactions in digital assets at a time when Western sanctions have constrained conventional payment options.
Implementation Timeline
Today's start date covers core provisions only. Full licensing and compliance requirements for exchanges and custodians are expected to roll out over the coming months, with complete implementation set for July 1, 2027. This timeline gives the industry approximately ten months to build compliant infrastructure before the strictest requirements take effect.
