Russia's State Duma has passed a comprehensive cryptocurrency law covering the issuance, circulation, and mining of digital assets. The legislation, expected to take effect on September 1, establishes a legal framework for the crypto industry and introduces stricter rules for exchanges and service providers. Under the new law, only companies registered in a special state registry will be allowed to operate as crypto exchanges, while banks will be required to block transfers to unauthorized platforms.
The legislation also strengthens legal protections for digital asset holders. Cryptocurrency owners will receive judicial protection regardless of whether they have formally declared their holdings, aiming to reduce legal uncertainty surrounding digital asset ownership.
The law introduces an annual crypto purchase limit of approximately $3,800 for retail investors using licensed intermediaries, while qualified investors will remain exempt from this restriction. Although cryptocurrency payments for domestic goods and services will continue to be prohibited, the approval of crypto payments in foreign trade is viewed as a strategic move to expand Russia's alternative international payment channels amid ongoing global financial restrictions.
