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Bankers suggested easing the legislative proposal for cryptocurrency market regulation in Russia., 2026/04/16 14:24:01
The Association of Banks of Russia (ABR) has submitted proposals to Anatoly Aksakov, the chairman of the State Duma Committee on the Financial Market, aimed at liberalizing the draft law “On Digital Currency and Digital Rights.” This draft law was introduced by the Central Bank and is currently under consideration by the State Duma.
Bankers are advocating for the allowance of cryptocurrency exchanges for Russian digital rights and for the separate regulation of stablecoins, which are not mentioned in the draft law at all. The ABR supports the expansion of options to either transfer cryptocurrency to foreign non-custodial wallets or to create “white lists” of foreign platforms. Another suggestion is to implement a transitional period for those wishing to transfer digital currency to decentralized platforms and non-custodial wallets.
Another proposal pertains to transactions between residents and legal entities from EAEU countries: the association believes it would be beneficial to permit these without intermediaries—exchangers and depositories.
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Additionally, bankers are insisting on more lenient requirements from the Central Bank regarding cryptocurrencies allowed for trading. In its current form, the draft law permits a limited range of currencies for legal trading—primarily Bitcoin, Ethereum, and Solana. Another suggestion is to remove the obligation for digital depositories to disclose information about the ultimate holders of digital currency in the structure of nominal holders. Bankers are also advocating for the extension of judicial protection to crypto-assets that have not been reported to tax authorities—at least during the transitional period, until the summer of 2027.
Anatoly Aksakov informed RBC that amendments to the draft law may only emerge by the time of the second reading of the document (the first has yet to occur). Among the most contentious issues, the committee head highlighted the challenge of using cold wallets.
Previously, Deputy Chairman of the Bank of Russia Vladimir Chistyukhin stated that the new draft law prohibits the transfer of crypto-assets from a Russian custodial wallet to a non-custodial foreign one. Russians are expected to be allowed to store cryptocurrency at foreign addresses, but assets in these wallets will need to be declared.
The package of laws regarding cryptocurrency regulation was submitted to the State Duma on April 1. Licensing for crypto exchanges, exchanges, and digital depositories is planned to commence on July 1. Individuals may begin to face fines for concealing information about the existence of foreign crypto wallets.
