Russia Approves Legal Framework for Crypto Assets
Duma passes bill classifying crypto as property, sends it to Putin for approval.
1Legal Status Granted
Russia's State Duma approved a bill classifying crypto assets as property. Bitcoin and other digital assets will now be considered property under Russian civil law but cannot be used for everyday payments. The law aims to create a legal framework for crypto transactions in the country.
2Investment Cap
Non-qualified investors can purchase up to 300,000 rubles ($3,800) worth of crypto annually. Transactions must go through licensed intermediaries, and investors must first pass a risk-awareness test. Qualified investors have a higher limit of 3 million rubles.
3Licensing Process
The Central Bank of Russia will license five categories: exchanges, brokers, custodians, management companies, and exchangers. Existing operators have a transition period until July 1, 2027. Banks are prohibited from routing payments to unlicensed foreign platforms.
4Cross-Border Trade Allowed
The law permits Russian companies to use crypto for international trade, a crucial channel since Russia's exclusion from SWIFT after its 2022 invasion of Ukraine. However, domestic crypto payments remain banned.
5Synchronized with Digital Ruble
Core provisions take effect on September 1, 2026, coinciding with Russia's rollout of the digital ruble at major banks and retailers. Banks like Sberbank and VTB are already preparing for the new market.
6Global Implications
Russia's move could strengthen crypto's role in the global financial system. The country previously became the world's second-largest bitcoin miner after legalizing crypto mining. The new law complements this infrastructure with trading, custody, and settlement rules.
Original article: Bitcoin News — Rusya'da Kripto Varlıklar İçin Yasal Çerçeve Onaylandı