- Russia approved a new law allowing regulated retail crypto trading.
- Retail investors must pass a knowledge test and face annual purchase limits.
- Domestic crypto payments remain banned despite the new framework.
Russia's State Duma has passed a landmark crypto bill that creates a legal framework for exchanges, brokers, and custodians while opening the market to retail investors under government oversight. Existing crypto businesses will have roughly one year to register under the new system.
Retail investors will be allowed to purchase approved cryptocurrencies after passing a knowledge test, but purchases will be capped at 300,000 rubles (around $3,900) per year through each intermediary. Qualified investors will not face purchase limits, although they must also meet eligibility requirements.
While the legislation expands access to crypto investing, Russia continues to prohibit using cryptocurrencies for domestic payments. However, crypto remains permitted for certain international trade settlements, mining activities, and other approved transactions. Most provisions of the new law are expected to take effect on September 1, pending final approval.
