In Russia, cryptocurrency is no longer a forbidden fruit. On July 21, 2026, the State Duma passed a law that, effective September 1, introduces clear rules for the circulation of digital assets, appointing the Bank of Russia as the primary regulator. Transactions are now available to all investors through licensed intermediaries, with testing and limits for non-professional investors.
Previously, crypto existed in a gray zone: mining was legalized, but trading remained risky and opaque. The new law establishes infrastructure—crypto exchangers, digital depositories, and brokers. Unqualified investors will be able to buy the most liquid coins after a test, but no more than 300,000 rubles per year from a single intermediary. Qualified investors will have access to the full range without limits. Paying with crypto within the country is still prohibited, but exporters and importers will be able to use it for foreign settlements without restrictions.
The state gains several advantages. Firstly, control: all operations will be conducted through licensees, with a transition period until July 2027 for obtaining licenses. Secondly, taxes and data—residents are obliged to notify the Federal Tax Service about assets held abroad. Thirdly, a tool to circumvent sanctions: cross-border payments in crypto become a legal channel. Investors, in turn, gain protection from fraudsters and the opportunity to exchange crypto for Russian digital rights.
For the average person, this is more than just news about a law. Money that was previously hidden in foreign wallets can now be kept under Russian jurisdiction with clear rules. However, there should be no illusions: the limit for retail investors and the ban on domestic payments are reminders that the state does not fully relinquish control. Like water in a river, crypto now flows in an official channel, but the gates remain in the hands of the regulator.
The law also develops the market for digital rights: they can be issued on public networks and traded through intermediaries. This opens up new ways for issuers to raise capital and provides investors with additional tools. Ultimately, Russia is not just catching up with the world but building its own model where crypto serves both private interests and state objectives.
The main question now is not "can you?" but "how exactly?" Those who previously acted at their own risk will gain legal access but lose anonymity. Those who waited for an official signal can enter the market without fear. In any case, Russians' relationship with digital assets is changing forever—from the underground to a regulated instrument.
