Russia took another step in regulating the cryptocurrency market after the State Duma approved a bill that establishes the first comprehensive framework for the circulation of digital currencies in the country. The measure defines rules for companies in the sector, investors, and service providers, in addition to creating an adaptation timeline that will be completed in 2027.
The text, officially called "On Digital Currency and Digital Rights", was submitted by the government on April 1, 2026. After passing the first reading at the end of April, the proposal was approved in the subsequent stages of the legislative process, consolidating a new regulatory framework for the cryptocurrency sector in Russia.
The legislation establishes rules for brokerages, exchanges, management companies, digital asset custodians, and currency exchange offices. The goal is to create a regulated environment for the purchase, storage, and trading of cryptocurrencies by individuals and legal entities.
Among the main points of the law is the requirement that only licensed companies may intermediate cryptocurrency transactions. The text also divides market participants into five regulated categories, establishing specific requirements for each type of activity.
Another highlight is the differentiation between professional investors and retail investors. The rules create distinct conditions for access to services and transactions, following criteria that still must be detailed by the regulatory bodies responsible for implementing the legislation.
The new rules begin to take effect on September 1, 2026, while companies and other market participants will have until July 1, 2027 to adapt their operations to the requirements set out in the law.
After this transition period, financial institutions must refuse cryptocurrency transactions carried out outside the framework authorized by the government. Some additional measures, including provisions related to combating fraudulent operations and the access of competent authorities to certain data, will take effect only throughout 2027.
The Russian government states that the legislation seeks to organize the cryptocurrency market without preventing its use in international trade operations. Although digital assets remain prohibited as a means of payment for purchases made within the country, companies engaged in foreign trade may use them in international transactions, in accordance with the rules established by the new legislation.
In addition to operational regulation, Russian authorities stated that they will continue developing rules focused on the taxation of cryptocurrencies, liability for noncompliance with the rules, and mechanisms aimed at preventing fraud and irregularities involving digital assets.