President Putin signs legislation allowing regulated crypto exchanges and custody while maintaining restrictions on using digital assets as payment.
Russian President Vladimir Putin signed a law establishing comprehensive regulations for cryptocurrency trading, exchanges, and custody. The legislation introduces a state registry for operators, requiring a minimum capital of 15 million rubles ($187,000) and membership in a self-regulatory body by July 1, 2027.
The law fills gaps left by earlier mining regulations but retains a ban on using crypto as payment for goods and services. Banks can block transfers suspected of flowing to unregistered providers, and advertising crypto payments remains prohibited. The framework covers issuance, storage, accounting, and trading of digital assets.
Existing operators have until mid-2027 to comply with the new rules, which aim to create a structured market while preventing crypto from replacing the ruble in transactions.