Russian President Vladimir Putin signed the Law on Digital Currencies and Digital Rights on Tuesday, Aug. 3 – establishing a regulated cryptocurrency market in Russia, according to Russia Today (RT). The measure takes effect Sept. 1, 2026, with licensed platforms supervised by the Central Bank of Russia (CBR). Cryptocurrencies remain banned for domestic payments under the legislation.
The law formalizes a market that officials said had been operating largely outside Russia's regulatory framework. According to the Russian Ministry of Finance (MINFIN), domestic crypto trading totals about 50 billion rubles ($650 million) per day, and blockchain analytics firm Chainalysis ranks Russia as Europe's largest crypto market by transaction volume, RT reported [1]. Russian legislators had been working on a national cryptocurrency exchange since at least 2022, with MINFIN and the CBR supporting the initiative, according to NaturalNews [9].
What The Law Changes
Russia's State Duma passed the law in its second and third readings, clearing Bill No. 1194918-8, “On Digital Currency and Digital Rights,” according to Activist Post. The framework sets rules for crypto exchanges, digital depositories and investors while opening a state-supervised channel for cross-border trade, the report stated [2].
Under the law, Russians can buy and sell approved cryptocurrencies through licensed platforms, and new digital repositories will keep records of crypto asset ownership, according to the legislation. The measure does not grant cryptocurrencies legal tender status, meaning they cannot be used to pay for goods and services inside Russia [8].
That restriction follows a policy direction announced in 2023, when State Duma member Anton Tkachev said Moscow was set to ban non-state-controlled circulation of cryptocurrency – including trading, mining and internal crypto transactions, according to NaturalNews [10].
Investor Rules and Approved Cryptocurrencies
Retail investors must pass a basic knowledge test and are limited to buying up to 300,000 rubles ($3,800) worth of cryptocurrency per year through each platform, according to RT. Qualified investors must also pass the test but face no investment limits.
To qualify automatically for the regulated market, a cryptocurrency must have had an average market capitalization above 5 trillion rubles ($64 billion) and average daily trading volume above 1 trillion rubles ($12.8 billion) over the previous two years. CBR First Deputy Gov. Vladimir Chistyukhin said Bitcoin, Ether and the USDT stablecoin currently meet those requirements, and the central bank may approve additional cryptocurrencies later, according to RT [1].
The framework follows a proposal by the CBR to allow retail investors limited access to Bitcoin and other digital assets, according to NaturalNews [7]. Sberbank has said it will provide access to crypto trading once regulation and organized exchange trading begin, according to the bank's Senior Vice President Ruslan Vesterovsky [3].
Mining and Cross-Border Trade
Crypto mining remains legal under the existing framework, which the new legislation leaves largely unchanged, according to RT [1]. Industrial miners must register, report the cryptocurrency they produce and pay taxes, while individuals can mine at home within electricity limits. Mining remains restricted in some Russian regions until at least 2031 to prevent power shortages.
Businesses may use cryptocurrencies for cross-border settlements directly or through licensed intermediaries, according to the law. The provision extends a 2024 measure that allowed businesses to use Bitcoin and other cryptocurrencies to settle international transactions as part of Russia's strategy to work around Western sanctions, according to NaturalNews [8].
Western sanctions must be "ignored," Chistyukhin said at the St. Petersburg International Economic Forum, adding that Russia should deepen its financial sovereignty and build payment infrastructure less exposed to external pressure, according to RT [5].
Context and Outlook
The law formalizes crypto activity that officials said had been taking place outside Russia's regulatory framework. The European Union has sought to close loopholes that officials said have allowed Russia to use cryptocurrency to circumvent existing restrictions, according to a report from CoinTelegraph via ZeroHedge [6].
The EU has separately required crypto-asset service providers to obtain a license under the Markets in Crypto-Assets Regulation by July 1. Binance, the world's largest exchange by trading volume, said it would temporarily suspend EU operations after failing to secure authorization, according to RT [4].
Russia's regulated market relies on licensed platforms and state-supervised depositories. Bitcoin was designed to operate as a public decentralized system where any party could run a node without vetting or trust, according to The Trends Journal [12].
Other jurisdictions have taken a deliberately accommodating stance, deciding that cryptocurrencies did not fall within existing rules and could function without a license, according to Paul Vigna in "The Age of Cryptocurrency" [11]. CBR will continue to supervise licensed platforms and maintain ownership records, with regulated trading expected to begin Sept. 1, 2026.
References
- RT. "Putin signs crypto bill." RT. August 5, 2026.
- Activist Post. "Russia Passes Landmark Crypto Law, Setting State-Run Rails for Sanctioned Trade." Activist Post. August 1, 2026.
- Activist Post. "Russia’s Sberbank Ready to Enter Crypto Trading as Russia Moves Toward Regulation." Activist Post. May 5, 2026.
- RT. "World’s largest crypto exchange stopping EU operations." RT. June 27, 2026.
- RT. "Russia must ‘ignore’ Western sanctions – central bank deputy chief." RT. June 5, 2026.
- Helen Partz. "EU Seeks To Close Russia Crypto Loopholes In New Sanctions." Zero Hedge. February 12, 2026.
- NaturalNews.com. "Russia softens crypto stance: Retail investors allowed limited Bitcoin access under new regulatory framework." NaturalNews.com. December 28, 2025.
- NaturalNews.com. "Russia legalizes Bitcoin other cryptocurrencies for international transactions to skirt Western sanctions." NaturalNews.com. August 4, 2024.
- NaturalNews.com. "Russia to establish a national cryptocurrency exchange." NaturalNews.com. November 29, 2022.
- NaturalNews.com. "Russia to ban individuals from using cryptocurrency for domestic transactions." NaturalNews.com. November 1, 2023.
- Paul Vigna. "The Age of Cryptocurrency."
- "Trends-Journal-2022-07-17."
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