Russian President Vladimir Putin signed the country's first comprehensive organic law governing digital currencies on Tuesday, August 4, 2026, state news agency Tass reported, as covered by Decrypt. The legislation creates a unified regulatory framework for crypto exchanges, digital depositories, brokers, clearing houses and mining, all supervised by the Central Bank of Russia.
Only organizations listed in a special government registry will be permitted to operate crypto exchanges. Existing operators have a grace period to register by July 1, 2027. Registered exchanges must maintain a minimum capital of 15 million rubles, equivalent to approximately 187,000 US dollars, and join a self-regulatory body in the financial market, Decrypt reported.
Retail access is capped and gated. Non-accredited investors may purchase the most liquid cryptocurrencies through licensed intermediaries, with an annual limit of 300,000 rubles per intermediary. Both retail and qualified investors must pass a knowledge test. Qualified investors face no purchase limit, according to Decrypt.
The law maintains the existing ban on using cryptocurrency and digital rights as a means of payment for goods and services, and it prohibits advertising that promotes crypto payments. Banks and foreign lender branches must block transfers they suspect are routed through an unregistered provider. Most provisions enter into force on September 1, 2026.
One exception carved out by the law permits cross-border settlements under foreign trade contracts between residents and nonresidents, as well as deals involving mined coins and payments inside digital asset platforms. This carve-out is drawing attention from Western regulators concerned about potential sanctions circumvention, Decrypt noted.
Cryptocurrency mining was already legalized in Russia in 2024, when Putin signed a separate bill greenlighting the industry. The new law fills the regulatory gap on trading and custody that the mining rules left open.
Sources
- Decrypt — Putin Signs Russia's First Crypto Law: Trading Is Legal, Payments Stay Banned: https://decrypt.co/375062/putin-signs-russia-first-crypto-trading-payments
