Russia’s central bank has proposed a revised regulatory framework that would allow both qualified and non-qualified investors to trade cryptocurrencies under clearly defined and separate conditions.
Under the proposal, non-qualified investors would be permitted to trade cryptocurrencies through licensed intermediaries with an annual cap of 300,000 rubles per intermediary.
The Bank of Russia stated that non-qualified participants must first pass a risk awareness test and would only be allowed to trade a limited selection of the most liquid crypto tokens.
Cryptocurrencies and stablecoins would be legally classified as foreign currency assets that may be bought and sold but not used as a means of payment within Russia.
Qualified investors and intermediaries would be allowed to trade a broader range of cryptocurrencies without an investment ceiling, excluding privacy coins that obscure transaction details through smart contracts.
Despite having no cap on investment size, qualified investors would still be required to complete the same risk awareness assessment as non-qualified traders.
Russian citizens would also be permitted to buy cryptocurrencies on overseas exchanges using foreign bank accounts under the proposed framework.
The central bank confirmed that existing crypto assets could be transferred abroad via Russian intermediaries, provided such activity is disclosed to domestic tax authorities.
According to the official statement, the proposal has been formally submitted to the government for review and potential approval.
The Bank of Russia said it aims to complete the required legislative amendments to implement the framework by July 1, 2026.
Regulators also plan to begin enforcing penalties against unlicensed crypto intermediaries operating in Russia from July 2027.
The initiative expands on an earlier plan that allowed only qualified investors to trade crypto within a three-year experimental regime.
The central bank said the updated proposal is intended to improve market transparency and introduce consistent standards for crypto-related services.
In parallel, Russia is preparing for a phased nationwide rollout of its central bank digital currency, known as the digital ruble.
The launch of the digital ruble is scheduled for September 1, 2026, marking a significant step in Russia’s broader digital payments strategy.
Legislation passed in July requires merchants with annual revenues above 120 million rubles to accept digital ruble payments starting from the 2026 launch date.
Mid-sized businesses will be required to comply with the digital ruble mandate by 2027, while smaller firms will have until 2028.