Russia Moves to Allow Exchange Trading in Bitcoin, Ether and USDT
Russia has permitted cryptocurrency mining and limited use in cross-border settlements, while continuing to ban digital tokens as a means of domestic payment. Most retail trading has therefore taken place through foreign or informal venues. Bringing crypto into a framework overseen by the Bank of Russia — with licensed exchanges, brokers and digital depositories — marks a shift toward controlled market access, investor testing and closer monitoring of capital flows in an economy constrained by Western sanctions.
The Bank of Russia published a draft directive on Aug. 11 that would admit Bitcoin, Ether and Tether’s USDT to public trading on licensed exchanges. Eligible assets must meet thresholds including a two-year average market value of at least 5 trillion rubles, average daily turnover of 1 trillion rubles and five years of public price history; XRP did not qualify. The underlying law takes effect Sept. 1, 2026. Non-qualified investors who pass a test may buy up to 300,000 rubles a year through each intermediary, while qualified investors face no purchase cap after testing.
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The history behind this eventPutin Signs Russian Crypto Law Opening Regulated Retail Trading
Russia has gradually brought crypto into its financial system since 2024, legalizing regulated mining and allowing companies to test digital currencies for cross-border trade. The new law goes further by creating the country’s first comprehensive framework for retail trading under Bank of Russia oversight. The shift matters because Western sanctions have constrained conventional payment channels, while Moscow is seeking to draw crypto activity into a licensed market without challenging the ruble’s status as the sole currency for domestic payments.
President Vladimir Putin signed the measure on Aug. 4, 2026, after the State Duma approved it on July 21. Core provisions take effect Sept. 1. Non-qualified investors who pass a test may buy the most liquid cryptocurrencies, capped at 300,000 rubles annually through each intermediary; qualified investors face no purchase limit but must also be tested. The framework covers licensed exchanges, brokers and digital repositories under the Bank of Russia. Crypto payments for goods and services remain banned inside Russia, while cross-border settlements for foreign trade are permitted.
Russia Sets First Rules for Regulated Crypto Trading
Russia has moved to bring cryptocurrency activity into its regulated financial system after allowing limited use of digital assets in cross-border trade from 2024. The Bank of Russia will oversee a market built around licensed exchanges, brokers, asset managers and digital repositories. The framework separates retail investors from qualified investors, while preserving bans on privacy coins and the use of cryptocurrency to pay for goods and services inside Russia.
The State Duma approved the cryptocurrency circulation law on July 21, 2026, with the legislation due to take effect on Sept. 1. The central bank followed on July 27 with its first draft regulations for organized trading and digital repositories. Retail investors who pass a risk test may buy up to 300,000 rubles a year through one intermediary, while qualified investors face no amount limit. Digital repositories must hold minimum capital of 50 million to 250 million rubles.
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