Russia adopts first comprehensive cryptocurrency regulation law

President Vladimir Putin signed Federal Law No. 282‑FZ, Russia’s first comprehensive framework governing cryptocurrencies and digital assets. The law, slated to take effect on 1 September 2027, requires crypto‑exchange operators, custodians, brokers and mining firms to be listed in a state‑approved registry and to hold at least 15 million rubles in capital. Licensed entities must join a self‑regulatory organization (SRO) and, if monthly trading exceeds 3.5 million rubles, comply with the full regulatory regime.

Banks and foreign‑bank branches are obliged to refuse transfers suspected of involving unregistered crypto service providers. While crypto may not be used as legal tender in Russia, retail investors may purchase approved liquid coins through licensed intermediaries up to 300,000 rubles per year per intermediary, after passing a knowledge‑assessment test. Qualified investors face no purchase caps but must also pass the test. The law also grants court protection to crypto‑asset holders regardless of prior declaration to authorities and permits cross‑border settlement of crypto‑based payments under certain conditions.