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Bank of Russia cryptocurrency regulation

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2026-10-15 20:52 UTC → 2026-10-20 12:01 UTC · added ~~removed~~

The Bank of Russia is establishing a regulatory framework for cryptocurrency and digital assets under Federal Law No. 282-FZ, “On Digital Currencies and Digital Rights.” To operationalize the system, the central bank is developing 27 subordinate legislative acts, several of which have already been submitted to the Justice Ministry for registration. Operations are expected to potentially begin before the end of 2026. The framework distinguishes between investor types. Non-qualified investors are restricted to purchasing specific highly liquid assets, such as Bitcoin, Ethereum, and Tether, with an annual cap of 300,000 rubles per intermediary. Qualified investors face fewer restrictions. While digital assets are permitted for cross-border settlements in foreign trade, their use for domestic payments remains prohibited. New guidance has introduced stricter controls on asset movement and trading. The transfer of cryptocurrencies, including Bitcoin, Ethereum, and XRP, to non-custodial or self-custody wallets is prohibited. Additionally, peer-to-peer (P2P) cryptocurrency trading between individuals will be illegal after July 1, 2027, requiring residents to use state-supervised intermediaries like licensed brokers. Crypto lending is also restricted to licensed brokers, trustees, and clearing houses. Authorities are also targeting arbitrage schemes involving the stablecoin Tether (USDT). Traders have been acquiring Tether in neighboring Commonwealth of Independent States (CIS) countries, such as Belarus or Kyrgyzstan, and selling it for cash at a premium within Russia. While technically legal, monetary authorities view this as a high risk for money laundering. To ensure financial stability, the Bank of Russia has proposed a 1% risk limit on total exposure to cryptocurrencies relative to a bank's capital. A transition period for market participants will continue until July 2027, after which unregistered intermediaries will face administrative or criminal penalties. In anticipation of these shifts, Sberbank has joined the central bank's crypto exchange register, intending to launch crypto products on December 1.

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