Russia’s State Duma plans to finalize legislation by July 2026, establishing a two-tier access system for digital assets. Under this scheme, non-qualified investors will have a purchase cap of 300,000 rubles annually, equivalent to approximately $4,000, and will be required to operate under a financial services license in Russia to ensure total regulatory compliance.
This new regulation, promoted by the head of the Financial Markets Committee, Anatoly Aksakov, seeks to protect citizens from the extreme risk associated with digital assets. While retail investors face strict limits, qualified ones will enjoy total freedom, provided they operate through intermediaries authorized by the Central Bank. According to Aksakov, the measure will establish Europe’s first dual regulatory framework, marking a significant milestone in state supervision of modern digital finances.
Furthermore, the law explicitly prohibits the use of digital assets for domestic payments, treating them strictly as tradable assets. This distinction is fundamental to maintaining the sovereignty of the ruble within the national territory. In this way, Russia seeks to integrate technology without compromising its monetary control, forcing exchange platforms to register and obtain official certification to operate legally.
Control over privacy coins and the list of State-approved digital assets
Under the framework of this financial services license in Russia, the Central Bank will publish a list of permitted cryptocurrencies for the general public. Assets like Bitcoin and Ethereum are expected to lead this selection, while privacy-focused coins, such as Monero or Zcash, will be excluded. Consequently, anonymity will remain outside the regulated Russian market to comply with international anti-money laundering and counter-terrorism financing standards.
Likewise, the Moscow and St. Petersburg stock exchanges have confirmed they already possess the necessary technological infrastructure to start operations by mid-2026. By holding a financial services license in Russia, these entities will be able to offer a secure environment for institutional trading. Thanks to this infrastructure, the State will be able to monitor massive capital flows that currently operate in gray markets or foreign platforms without oversight.
How will this annual restriction affect the growing mining market in Russian territory?
Despite individual purchase limitations, Russia has consolidated itself as Europe’s largest crypto market by transaction volume. Mining activity generates approximately one billion rubles daily, representing more than 16% of the global blockchain hashrate. Therefore, the government plans to classify mining as an export activity, seeking to maximize tax revenues from the sale of energy and digital resources to foreign jurisdictions.
Finally, the success of this ambitious regulatory framework will depend on the State’s ability to oversee operations on international platforms. Although the restrictions are severe, residents will be able to continue operating abroad as long as they notify national tax services. Consequently, Russia is moving toward a highly controlled digital economy, where the cryptocurrency ceases to be a marginal asset to become a key piece of the supervised financial system.
