Russia Finalizes Draft Bill to Legalize Cryptocurrency Trading

Russia is advancing crypto adoption with a finalized draft bill that would legalize cryptocurrency trading for both professional and retail investors. Led by Anatoly Aksakov, the legislation removes digital assets from special regulatory categories, signaling a shift toward broader integration into everyday finance.

The bill marks a move away from Russia’s previously restrictive stance while keeping investor safeguards in place. Aksakov confirmed it is ready for review in the spring parliamentary session, stating cryptocurrencies could soon become a routine part of daily life.

JUST IN: RUSSIA’S CONGRESS JUST SAID A BILL TO LEGALIZE #BITCOIN AND CRYPTO BUYING FOR ALL INVESTORS IS OFFICIALLY DRAFTED

BTC COMING TO THE 9th LARGEST ECONOMY IN THE WORLD pic.twitter.com/shFH4GrXaM

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Two-Tier Access System for Crypto Investors

The proposed legislation establishes a clear distinction between qualified and non-qualified investors, with different rules applying to each category. This tiered approach seeks to balance market access with consumer protection.

Non-qualified investors—everyday retail traders—will be allowed to purchase cryptocurrencies worth up to 300,000 rubles (approximately $3,800) annually. Before trading, these individuals must pass a mandatory risk-awareness test to demonstrate their understanding of the potential dangers associated with crypto investments. Their access will be limited to a select list of the most liquid cryptocurrencies deemed appropriate for retail investment.

In contrast, qualified investors—professionals with significant financial experience or resources—will face no such investment limits. However, they will still need to complete risk-assessment tests before engaging in crypto trading. Both categories of investors will conduct transactions through licensed Russian intermediaries such as exchanges, brokers, or depositories.

The bill prohibits the use of privacy-focused cryptocurrencies that conceal transaction details, reflecting ongoing concerns about financial transparency and potential illicit activities.

Evolution of Russia’s Crypto Stance

The draft bill marks a significant evolution in Russia’s approach to cryptocurrencies. The Bank of Russia, which previously advocated for a complete ban on crypto trading and mining as recently as March 2023, has gradually shifted its position toward regulated integration of digital assets.

This change reflects the government’s recognition of crypto’s growing importance in the global financial system and the potential benefits of bringing existing cryptocurrency activity under regulatory oversight rather than attempting to prohibit it entirely.

The central bank’s newly announced framework, released in December 2023, allows both qualified and non-qualified investors to participate in the crypto market under appropriate regulations. This framework forms the foundation for the current legislative proposal.

Finance Minister Anton Siluanov has also supported a coordinated approach to permit retail participation within defined limits, emphasizing that transaction caps are essential for containing financial risks as crypto adoption expands.

Implementation Timeline and Market Readiness

The legislation is expected to be enacted by July 1, 2026, with enforcement mechanisms for illegal crypto activities scheduled to begin in July 2027. This phased approach gives market participants time to adapt to the new regulatory environment.

Major Russian financial institutions have already signaled their readiness to enter the crypto market once the regulatory framework is in place. Both the Moscow Exchange and St. Petersburg Exchange have confirmed plans to launch crypto trading services as soon as the legislation takes effect.

The central bank plans to roll out a complete regulatory framework by mid-2026, consolidating Russia’s fragmented cryptocurrency rules under a single, enforceable system. This will include penalties for illegal market activities modeled on existing sanctions for unlicensed banking operations.

Wider Implications for Russia’s Financial System

The legislation could also enable crypto use for cross-border transactions, a growing priority as sanctions restrict traditional finance. Russia already ranks among the top ten countries for crypto adoption, with over $376 billion in transactions from mid-2024 to mid-2025.

Public interest continues to rise, with millions of citizens asking about crypto’s impact on pensions and benefits. However, officials stress that cryptocurrencies will remain investment assets only and will not replace the ruble. Overall, the bill reflects a measured effort to expand crypto use while maintaining regulatory control.

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