The Bank of Russia has proposed a new framework that allows both qualified and non-qualified investors to trade cryptocurrencies under separate sets of rules.
The proposal classifies crypto and stablecoins as foreign currency assets that can be bought and sold but not used for payments in Russia, according to the official statement.
Non-qualified investors are required to pass a risk awareness test to trade crypto, limited to some of the most liquid tokens. They are also limited to trading no more than 300,000 rubles ($3,846) annually per intermediary.
Qualified intermediaries, on the other hand, are allowed to trade any cryptocurrencies except for privacy coins with smart contracts that obscure transfer details. While they have no upper limit to investment amount, qualified investors are mandated to pass the same test.
Russian citizens will also be allowed to buy crypto on overseas exchanges using foreign bank accounts or transfer existing crypto assets overseas using Russian intermediaries. These activities need to be reported to local tax authorities, the statement said.
The new set of rules has been submitted to the government for review. The central bank stipulates that it aims to complete the necessary legislative changes for the new framework by July 1, 2026. It also said that it will start imposing penalties for unlicensed intermediary activities in the crypto market from July 2027.
CBDC
This new proposal from the Bank of Russia expands on its earlier proposal to allow qualified individuals to trade cryptocurrencies in a three-year experimental timeframe. The bank had mentioned that it intends to make the crypto market more transparent and establish necessary standards for crypto services.
Meanwhile, Russia will be entering into a phased nationwide rollout of its central bank digital currency (CBDC), with the launch date set for Sept. 1, 2026.
Under a bill passed in July, merchants with annual revenue above 120 million rubles must accept digital‑ruble payments starting Sept. 1, 2026. Mid‑sized firms have until 2027, and all others until 2028.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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