Russia’s Crypto Crackdown: Licensing, Caps, and Cross-Border Use

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Duma Crypto Bill Introduces Licensing and Investor Restrictions in Russia

As a crypto investor, I’m watching Russia closely. They’re starting to regulate crypto – basically, they’re bringing in licensing requirements, setting limits on how much people can invest, and controlling how crypto is used for international transactions. Interestingly, they’re blocking crypto from being used for payments *within* Russia, which feels a bit contradictory. It’s a complex situation, and I’m trying to understand how these new rules will impact my investments.

Russia is likely to soon have official rules for cryptocurrencies, as a new bill is moving forward in parliament. This early progress suggests they’re planning a clear system for managing digital assets. The government wants to encourage new technologies while also keeping a close watch on who can buy and sell them. It seems they’re also focusing on how cryptocurrencies are used internationally.

Duma Passes First Reading of Bill Introducing Investor Limits and Oversight

The Russian State Duma has taken the first step towards regulating cryptocurrency by approving a bill that establishes rules for businesses like exchanges, brokers, and financial institutions involved in the market. This legislation, as reported by TASS, aims to create a clear legal framework for these companies.

The plan would give the Bank of Russia main control over cryptocurrencies. It would be responsible for licensing companies and monitoring all crypto activity nationwide. Businesses already testing crypto under existing rules would find it easier to comply with the new regulations.

The new legislation would make it easier for banks and brokerage firms to get involved in the cryptocurrency market. It creates different levels of access for investors, separating them into qualified and non-qualified groups. Regular investors will have a spending limit of 300,000 rubles (about $3,900), while professional investors won’t have any restrictions on how much they can purchase.

New Proposal Allows Crypto for International Trade Amid Sanctions

This proposal includes a legal classification of cryptocurrency. It would be legally recognized as property, giving owners rights and protections in situations like bankruptcy or divorce. However, using cryptocurrency for everyday payments within the country would still be banned, ensuring the ruble remains the only official currency.

Allowing companies to use cryptocurrency for international payments is a key part of the new regulations. This would enable businesses to continue trading with other countries, even if sanctions are in place.

According to Kaplan Panesh, a leading member of the budget and taxes committee, the new plan improves legal certainty without sacrificing control over the money supply.

The bill still needs to be fully approved. It has to go through a second and third vote in parliament before it can be considered by the Federation Council and the president. If it’s passed, it’s expected to become law by July 1, 2026.

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2026-04-22 14:14