Russia and Thailand implement new cryptocurrency regulations

Russia and Thailand are implementing new regulatory frameworks for digital assets. On September 1, Russia’s first comprehensive legal framework for digital asset markets came into effect. This new regime introduces licensing requirements and specific rules for the operation of digital asset exchanges, brokers, custodians, and digital depositories.

While the framework allows retail buyers to trade major digital assets, the use of digital currency as a means of payment for goods, works, or services within Russia remains generally prohibited, subject to certain exceptions. Access for investors is contingent upon status and mandatory testing.

In Thailand, regulators have proposed new rules to expand access to overseas digital-asset derivatives. These rules aim to include safeguards based on investor type and product risk. Simultaneously, G20 finance ministers and central bank governors have reaffirmed the necessity for global regulatory and supervisory frameworks to support innovation while maintaining financial stability and strengthening anti-money laundering and counter-terrorist financing measures.