Russia to Roll Out Crypto Regulatory Framework in July

Russia is all set to introduce a comprehensive regulatory framework for cryptocurrencies in July. Once in place, the new regulations will officially allow retail investors to access the local crypto market under set conditions. According to the Head of the State Duma Committee on Financial Market, Anatoly Aksakov, the draft legislation is expected to be finalized for parliamentary voting by the end of June.

If approved, the framework will be implemented in over a year, with the full implementation scheduled for July 1, 2027.

New Rules for Retail Investors

Under the proposed rules, both qualified and non-qualified investors will be permitted to trade digital assets. However, retail investors without professional status will face restrictions. State news agency TASS reported that non-qualified traders will be limited to purchasing the most liquid cryptocurrencies, with an annual cap of 300,000 rubes (approximately $3,900).

Professional traders will be allowed to trade all types of crypto assets without limits, except for privacy-focused tokens such as Zcash and Monero. The framework would also allow Russians to buy cryptocurrencies through foreign accounts and transfer them to domestic platforms, provided such transactions are reported to tax authorities.

Legal experts expect the Central Bank to define a shortlist of approved cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). The legislation will also regulate crypto mining, distribution, and issuance, while maintaining Russia’s ban on using cryptocurrencies for domestic payments. The bill will also outline penalties for illegal crypto activity and detail licensing requirements for crypto platforms.