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Central Bank: Most Russian cryptocurrency exchanges will be able to remain in the market., 2026/04/14 15:32:58
The majority of participants in the Russian cryptocurrency market will be able to continue operating legally, stated Mikhail Ioncev, head of legal projects at the Bank of Russia. The representative of the Central Bank spoke at a panel dedicated to state regulation during the Blockchain Forum 2026.
The draft law prepared by the Central Bank to limit cryptocurrency circulation “leans towards the MiCa approach,” which refers to the regulatory framework chosen by the European Union, Ioncev explained. According to the head of legal projects, this choice has led to the inclusion of terms such as “crypto exchange” and “digital depository” in the draft law.
“If I had an exchange that wanted to enter the state registry, I would wait for the relevant regulations and requirements that will be imposed on the exchange operator,” said the senior Central Bank official to the conference attendees.
He advised everyone to be patient and wait for the draft law to come into effect, as the Bank of Russia, utilizing the “great flexibility that the future law provides,” will issue all its subordinate acts.
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Addressing the Blockchain Forum participants, Ioncev asked the audience to raise their hands if they knew and understood how to legalize their cryptocurrency. Out of several hundred attendees, only two individuals raised their hands.
“I think it is normal that not everyone has fully grasped the cutting edge of legal regulation yet,” the official explained.
In response, Andrey Tugarin, founder of the legal firm GMT Legal, lamented from the stage that the Central Bank’s draft law currently under consideration by the State Duma leaves some important questions unanswered. For instance, it does not address the regulation of the most popular stablecoin, USDT — “there is no way to approach it.” This is partly why payments for foreign goods and services using cryptocurrency will continue, “but no one will shout about the mechanisms.”
The Central Bank does not want Russians to widely use cryptocurrency, thus it aims to impose restrictions on non-professional, unqualified investors, stated Vladimir Chistyukhin, the first deputy chairman of the Bank of Russia, the day before. This includes a limit on crypto exchanges and trading, which may amount to 300,000 rubles per year through a single intermediary.
The government commission on legislative activity recently approved a draft law on criminal liability for organizing illegal circulation of digital currency.
