Russia to Legalize Crypto Trading by Mid-2027 Under New Law

Russia will introduce comprehensive cryptocurrency regulations this summer, opening digital asset trading to both retail and institutional investors by July 2027. Anatoly Aksakov, head of the State Duma’s Committee on Financial Markets, confirmed the timeline to Russia’s Parliamentary Gazette.

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The legislative framework will reach lawmakers for a vote at the end of June. Once approved, the law takes effect on July 1, 2027. Aksakov described the bill as the culmination of years of regulatory development.

Crypto exchanges currently operate in a legal grey zone across Russia. The new law will bring them under formal oversight. Unregistered operators face potential fines or imprisonment under provisions mirroring existing illegal banking laws.

The regulation marks a significant policy reversal for Russia’s crypto-skeptic central bank. International sanctions have frozen the country out of dollar-denominated trade, pushing authorities toward digital assets.

Russia’s Central Bank Abandons Anti-Crypto Stance

Russian crypto regulation stalled for years due to conflict between the central bank and finance ministry. The ministry pushed for regulated, taxable crypto markets. The central bank advocated for a complete ban similar to China’s approach.

Western sanctions changed the calculus entirely. Russian companies now use cryptocurrency to conduct dollar-free cross-border transactions. This practical reality forced the central bank to abandon its opposition.

The Bank of Russia submitted comprehensive legislative proposals to the government in late December 2025. Under that framework, digital currencies and stablecoins gain recognition as currency values.

Russians will access these assets through licensed intermediaries only. Domestic payments using cryptocurrency remain prohibited under the proposed rules. The central bank continues to warn that crypto assets carry substantial investment risks.

Commercial banks have also pushed for regulatory clarity. Their clients demand access to actual cryptocurrencies rather than derivative products currently available.

Strict Rules for Retail Investors

Retail investors must pass an eligibility test before trading cryptocurrency under the new law. Lawmakers have discussed imposing an annual cap of $4,000 on retail crypto purchases.

The central bank will likely compile an approved list of cryptocurrencies for general investors. Alexandra Fedotova, a lawyer at White Stone Consulting, expects this list to include five to ten major coins.

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Bitcoin and Ethereum will definitely appear on the approved list, Fedotova told Parliamentary Gazette. Solana and Toncoin may also qualify given their popularity among Russian users.

Investors seeking access to unlisted cryptocurrencies must qualify as professional investors. This tiered system mirrors approaches in other regulated markets worldwide.

Stablecoins will receive special treatment under the framework. Policymakers plan to designate them as tools for foreign economic activity rather than general investment vehicles.

The Tether-issued USDT stablecoin will function as a digital dollar for Russian companies. Purchases will only be permitted through licensed brokerages under strict oversight.

These requirements lay groundwork for the full regulatory rollout in 2027. The reporting infrastructure will support compliance monitoring once retail trading begins.

The central bank emphasizes that investors face potential total loss of funds in crypto markets. This warning forms a cornerstone of the consumer protection framework accompanying the new regulations.