New Legislation Alters Regulations for Cryptocurrency Exchanges in Russia, 2026/02/25 02:54:27

The Bank of Russia and the Ministry of Finance have formulated a legislative proposal that simplifies governmental access to information regarding cryptocurrency wallets and transactions. The authors of the document suggest that all private investors wishing to legally invest in cryptocurrency should undergo testing.

RBC has obtained the text of the draft law “On Digital Currency and Digital Rights.” Authorities anticipate that the law will come into effect on July 1.

According to a comment from an anonymous representative of the Central Bank of Russia to the publication, the text may be modified before being submitted to the State Duma, or it may remain unchanged. Deputy Minister of Finance Ivan Chebeskov stated that the State Duma will begin reviewing the bill in March. 

Who will have the right to organize cryptocurrency trading

The draft law specifies that this right will be granted solely to licensed exchanges and trading systems. There are eight such entities in Russia: Moscow Exchange, St. Petersburg Exchange, St. Petersburg Currency Exchange, St. Petersburg Commodity Exchange, Eastern Exchange, National Commodity Exchange, “Central Trading System,” and “Decentralized Trading System.”

What will happen to exchanges

They will be required to be referred to as “organizations for the exchange of digital currency.” Authorities plan to maintain a special registry, and engaging in cryptocurrency exchange without being included in this registry will be prohibited. The authors of the bill intend to include organizations with a monthly turnover exceeding 3.5 million rubles in the registry. The Central Bank intends to impose requirements on exchanges regarding “minimum capital size and adequacy of own funds,” according to RBC.

Who will be able to perform depository functions

The draft does not provide a clear answer regarding who will have the authority to account for the transfer of rights to cryptocurrency and digital rights, or to grant access to identifier addresses. Journalists from RBC have discovered that the Central Bank intends to establish requirements for those wishing to act as depositories.

Additionally, it has been proposed that all “participants who will conduct organized cryptocurrency circulation in Russia” be exempt from liability to clients for damages caused by international sanctions and “disruptions in systems not created under Russian law.”

The exchange of cryptocurrency for foreign trade operations may be excluded from the provisions of the draft law, RBC reports.

Who among Russians will be able to trade cryptocurrency

Individuals classified as qualified investors who wish to invest in cryptocurrency will be required to undergo testing. Other individuals, referred to as unqualified investors, will be subject to a list of restrictions:

• testing with results valid for one year;

• purchasing only cryptocurrency permitted for trading on regulated Russian platforms;

• a limit on the “maximum possible amount for purchasing crypto instruments” (the exact amount is not specified).

Representatives of the Central Bank previously indicated that the maximum possible amount would be capped at 300,000 rubles. Subsequently, the Ministry of Finance stated that this amount might be subject to change.

The authors of the draft law assert that the requirements for investors will apply not only during trading on exchanges but also “when working with exchanges.” It is promised that only transfers of crypto assets between wallets belonging to the same individual, in cases of inheritance, division of property, and by court order will be exempt from these conditions.

Special amendments regarding margin trading of crypto assets are expected to be addressed in the law “On the Securities Market” — however, no information about these amendments is currently available, according to RBC.

How authorities plan to monitor cryptocurrency exchange and trading

The draft introduces a specific term — identifier address. This is defined as a “unique sequence of characters” resembling a cryptocurrency wallet address, which must be assigned to a client’s account at an exchange or exchange service and used for each transaction involving the transfer of coins. The draft law requires exchanges and exchanges to share information about identifier addresses and the movement of funds with: the Bank of Russia, Rosfinmonitoring, the tax authorities, arbitration managers, courts, and law enforcement agencies.

The draft law proposes to classify exchanges, brokers, management companies, and depositories as “licensed intermediaries,” who are obligated to obtain complete information about the recipient and sender of each transaction amounting to 100,000 rubles — including addresses “opened in foreign infrastructure.” If the transaction amount is less than 100,000 rubles, the operator “will be required to decline the transfer if the information is insufficient,” RBC reports.

There is currently no new information regarding penalties for investors who violate the rules outlined in the draft law or who use foreign exchanges and exchange services. According to RBC, the Central Bank of Russia intends to introduce penalties starting in July of the following year, 2027.

The director of the Department of Strategic Development of the Financial Market at the Central Bank, Ekaterina Lozgacheva, recently stated that investors may face fines if they utilize a foreign platform that has not been legalized in Russia, meaning it has not established an office in the country.