The Russian State Duma is moving toward establishing a comprehensive legal framework for the domestic cryptocurrency market, expected to take effect from July 1, 2026. The proposed bill introduces a two-tier investor classification system: unqualified investors will be limited to purchasing a maximum of 300,000 rubles worth of cryptocurrency per year (approximately $3,900), while qualified investors will face fewer restrictions. Russia also plans to block unlicensed foreign exchanges such as Bybit and OKX once the domestic licensing mechanism is implemented, scheduled for summer 2026.
Legal liability for unlicensed intermediary activities will be enforced starting July 1, 2027. Meanwhile, stablecoins may be regulated under a separate bill primarily aimed at cross-border commercial payments but still prohibited for domestic transactions. This move reflects Russia’s strategy to control digital cash flows while developing a domestic cryptocurrency trading ecosystem.
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