The Russian government moves cryptocurrencies outside the scope of financial regulation; new legislation is ready.

The Russian lower house is showing signs of fundamentally changing its approach to cryptocurrencies. In mid-January, Anatoly Aksakov, chairman of the State Duma Financial Market Committee, told TASS news agency that a bill aimed at exempting cryptocurrencies from special financial regulations has been prepared for implementation. If this bill passes, cryptocurrencies are likely to function not just as an investment asset for Russian citizens but also as a daily payment method.

Russia’s Cryptocurrency Regulations Are Finally at a Turning Point

Until now, Russia has maintained a regulatory stance towards cryptocurrencies, but this bill suggests a major policy shift. Policy makers seem to be beginning to recognize the importance of the role cryptocurrencies play in economic activities. According to Chairman Aksakov, under this new framework, cryptocurrencies issued in Russia could also circulate in foreign financial markets. This would significantly enhance the freedom of cross-border financial activities.

Different Regulatory Rules for Retail and Institutional Investors

An interesting aspect is that the regulation differs depending on the category of investor. Non-accredited investors (individual investors) will be limited to a maximum purchase amount of 300,000 rubles (approximately 500,000 yen) per transaction. However, professional financial market participants will be able to operate in the market without such restrictions. This two-tier structure reflects Russia’s strategic approach to protect ordinary citizens while stimulating overall market activity.

Full-Scale Use in International Payments Expected

The biggest benefit of the bill’s enactment will be the official recognition of cryptocurrencies as a means of international settlement. Until now, cross-border restrictions have limited international remittances and transaction settlements, but utilizing cryptocurrencies could reduce these barriers. For Russia, which is under economic sanctions from Western countries, securing alternative payment methods is a strategically important issue.

Russia to Promote Comprehensive Legal Framework in Spring Parliament

Aksakov has announced that the Russian lower house will focus on developing legal frameworks for digital financial assets and cryptocurrencies during the upcoming spring session. This is not just a temporary policy but part of Russia’s long-term strategy to integrate cryptocurrencies into the national financial system. The developments over the next few months will be closely watched to see how they influence Russia’s cryptocurrency market and the global digital finance landscape.