Russia Passes Landmark Crypto Market Law With Retail Investment Cap

Russia has long barred cryptocurrencies from being used to pay for goods and services at home, while gradually allowing digital assets in tightly controlled investment and cross-border channels. The shift has gained importance as sanctions complicate international settlements and Moscow seeks alternatives to traditional payment rails. The new law creates Russia’s first nationwide framework for regulated retail crypto trading and exchange oversight without recognizing digital tokens as domestic legal tender.

President Vladimir Putin has signed the legislation, with core provisions due to take effect on Sept. 1, 2026. Crypto payments for domestic purchases will remain prohibited, but digital assets may be used to settle cross-border transactions. The Bank of Russia has separately proposed exchange trading in Bitcoin, Ether and Tether’s USDT, while leaving XRP off the approved list. Under the proposed rules, ordinary retail investors would be limited to about $3,650 in crypto purchases annually.

Western sanctions have restricted Russian companies’ access to channels for international trade and cross-border payments, prompting them to seek cryptocurrencies as an alternative settlement tool. The new bill distinguishes between cross-border trade and domestic consumer transactions, helping companies conduct international business while preserving the ruble’s legal status in Russia’s domestic payment system.

Russia’s State Duma has approved a cryptocurrency regulation bill in its first reading, allowing companies to settle international trade in cryptocurrencies while maintaining a blanket ban on their use to pay for domestic goods or services. The bill also designates the Bank of Russia as the main regulator responsible for issuing licenses and monitoring transactions. The information currently available does not specify the voting date, any monetary amounts or the timetable for further readings.