Russia Declares Bitcoin and Ethereum as Legal Property
Russia recognizes major cryptocurrencies as property, paving the way for cross-border trade.
1Russia's Crypto Move
The Russian State Duma has granted legal property status to major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and XRP. While commercial use is permitted, individual users face an annual cap of 300,000 rubles ($3,800). This regulation aims to provide an alternative route amid Western sanctions.
2Limits for Retail Users
Under the new law, Russian citizens cannot use crypto for in-store or online purchases. However, investors who pass a knowledge test can buy up to 3 million rubles in crypto annually and transfer up to 1 million rubles abroad. This encourages crypto to be used primarily as an investment tool.
3Cross-Border Trade Facilitated
Russia's move simplifies the use of cryptocurrencies for international trade. The law, set to take effect in September 2026, offers an alternative payment method for Russia, excluded from SWIFT. It promotes crypto over the ruble for cross-border transactions.
4Wallet Disclosure Requirement Removed
The final draft of the law eliminates the requirement for crypto holders to disclose wallet addresses. Instead, reporting will focus on balances and transaction volumes. All transactions will be overseen by the Central Bank of Russia, offering users some privacy.
5Global Trends and US Steps
Russia's move aligns with countries like Japan, which classify crypto as financial instruments. In the US, the CLARITY Act is expected to launch by August 2026. The White House's agreement on an ethics package could accelerate this process.
6A Significant Step for Crypto Markets
Russia's regulation strengthens the role of cryptocurrencies in the global financial system. It provides an alternative payment network for sanctioned countries while enhancing crypto's legitimacy. This move could inspire similar actions from other nations.
Original article: DailyCoin — Rusya Bitcoin ve Ethereum'u Yasal Mülk Olarak Tanıdı