Russia is preparing to significantly ease its stance on cryptocurrency, with new legislation expected to open the market to everyday users and normalize crypto use across the country. According to reports from state-owned media, lawmakers aim to deregulate parts of the crypto sector, signaling a major shift from earlier restrictive policies.
A draft bill is set to be introduced in the State Duma during the spring legislative session. The proposal would remove cryptocurrencies from special financial regulation, allowing them to function more like ordinary financial assets in daily life. Officials say the move reflects growing recognition of crypto’s role in both domestic finance and international transactions.
Russia’s New Crypto Bill and Retail Investor Access
Anatoly Aksakov, chair of the State Duma’s Financial Market Committee, stated that the legislation would allow wider crypto participation, including access for non-qualified, or retail, investors. Under the proposal, these investors would be permitted to buy cryptocurrencies up to a limit of 300,000 rubles (approximately $3,800).
More experienced or “professional” investors—those who meet income, education, or knowledge requirements—would be allowed to trade cryptocurrencies without limits. The approach mirrors traditional financial markets, where access levels depend on investor sophistication.
The bill aligns with a December proposal from the Bank of Russia, which marked a reversal from its earlier push for a complete crypto ban. Instead, the central bank now supports controlled access to digital assets, especially as crypto becomes increasingly relevant for cross-border payments.
Currently, cryptocurrencies are recognized as property in Russia, but their use for payments inside the country is banned. Despite this, many individuals and businesses already rely on crypto for international transfers, a trend that has accelerated since 2022 amid global sanctions.
Crypto Exchanges and International Payments in Focus
Alongside investor access, Russian lawmakers are also discussing tighter oversight of crypto exchanges. While exchanges remain largely unregulated, officials say clearer rules are needed to protect users and combat fraud.
Some lawmakers have raised concerns about scams operating through foreign-based exchanges, particularly in neighboring countries, which makes enforcement difficult. New regulations could create a legal framework for exchanges to operate within Russia, encouraging transparency and accountability.
At the same time, officials acknowledge crypto’s usefulness for international settlements. Lawmakers have noted that digital assets can be used for cross-border payments and later integrated into foreign financial markets, especially when issued domestically.
The Bank of Russia has already taken small steps in this direction, relaxing crypto transaction rules for businesses in late 2024 and outlining how exchanges, brokers, and trusts could legally manage digital assets.
