Major breakthrough in Russian cryptocurrency legislation! The 300,000 ruble purchase threshold opens in spring

On January 14, Russian State Duma Committee on Financial Markets Chairman Aksakov announced that the bill to lift special regulation on cryptocurrencies is ready and will be passed in the spring. The purchase limit for non-qualified investors is 300,000 rubles (about $3,800), while professional investors have no restrictions. The bill allows use for international settlements and will take effect in July 2026. After Western sanctions cut off traditional financial channels, Russia has shifted from strict control to full embrace of cryptocurrencies.

From Ban to Embrace: Sanctions Reshape Russia’s Cryptocurrency Policy

Russia’s sudden policy shift on cryptocurrencies began after unprecedented Western sanctions following the 2022 Ukraine war. SWIFT payment system was cut off, foreign exchange reserves frozen, and major banks excluded from the international financial system. These sanctions forced Moscow to seek alternative financial channels. Last spring, Russia introduced a special legal regime allowing digital currencies in cross-border payments, marking the country’s first recognition of the practical value of cryptocurrencies.

This “experimental” scheme was initially limited to a small group of “qualified” investors. By May 2025, the Central Bank of Russia (CBR) authorized financial institutions to offer crypto derivatives to qualified investors. In November, the central bank began discussing relaxing overly strict investor requirements, including minimum annual income thresholds and traditional investment experience. These policy relaxations indicate Russia has repositioned cryptocurrencies from “speculative tools” to “strategic financial infrastructure.”

At the end of last December, Russian monetary authorities issued key points of a new regulatory concept, officially recognizing cryptocurrencies as “monetary assets.” This is a conceptual breakthrough, meaning cryptocurrencies are no longer viewed as virtual commodities or securities but as a form of currency with legal status. Aksakov emphasized in an interview with Russia 24 TV: “We will place great importance on the development of digital financial assets and will dedicate significant time to discussing cryptocurrencies at the upcoming spring meeting. A bill has been drafted that will exempt cryptocurrencies from special financial regulation, making them commonplace in our lives.”

Russia’s Breakthrough Cryptocurrency Policy Design

Russia’s cryptocurrency legislation features three major breakthroughs. First is a tiered investor system: non-qualified investors are limited to purchasing 300,000 rubles annually, a threshold far lower than the strict requirements for “qualified investors.” 300,000 rubles is roughly 3 to 4 times the average monthly salary in Russia. Setting this limit protects retail investors from excessive speculation while promoting genuine adoption of crypto investments.

Three Core Mechanisms of the Bill

Tiered Investor Access: Non-qualified investors have an annual purchase limit of 300,000 rubles; professional financial market participants operate without restrictions.

Legalization of International Settlements: Cryptocurrencies can be actively used for cross-border payments, bypassing SWIFT and the US dollar settlement network.

Attracting Foreign Capital: Crypto assets issued by Russia can be invested in other countries’ financial markets, becoming a new tool for raising foreign capital.

Secondly, professional investors are granted unrestricted operation rights. Financial institutions, investment funds, and large corporations can freely use cryptocurrencies for trading, hedging, and asset allocation. This injects significant flexibility into Russia’s financial system, enabling it to maintain international capital flows and trade settlements despite being excluded from Western financial systems. Aksakov stated: “Professional market participants will be able to trade in this market without restrictions.”

Third is the explicit legalization of international settlements. The bill allows Russian companies and individuals to use cryptocurrencies for international payments and to place Russian-issued crypto assets into foreign financial markets. This effectively creates a parallel cross-border payment network alongside the traditional US dollar system. For countries engaged in trade with Russia but concerned about violating Western sanctions, cryptocurrencies offer a technically feasible and hard-to-trace alternative.

From Resistance to Compromise: Central Bank’s Attitude Shift

It is noteworthy that the Russian Central Bank was previously the most vocal opponent of cryptocurrencies. The bank repeatedly warned about the risks of crypto investments and proposed a complete ban on trading and mining. However, faced with strategic national needs, the central bank’s stance has undergone a fundamental shift. Reports indicate that the bank initially called allowing non-qualified investors to participate in crypto “an aggressive move,” but ultimately agreed to the reform.

This compromise reflects internal power dynamics within the Russian government. The Duma, as the legislative body, represents strategic political considerations, while the Central Bank focuses on financial stability and risk management. Under sanctions pressure, strategic needs outweighed technical risk concerns. A Sberbank survey last year showed that 43% of Russians are willing to open crypto wallets, indicating domestic demand is also driving policy change.

Aksakov emphasized that the bill will promote the development of Russia’s crypto industry under domestic regulation. This means Russia not only aims to legalize crypto use but also to establish domestic exchanges, wallet services, and mining industries. With abundant energy resources and low electricity prices, Russia has natural advantages for crypto mining. Once the legal framework is clear, Russia could quickly become a major global hub for crypto mining and trading.

Spring Legislation and the July Implementation Timeline

According to Aksakov, the State Duma will focus on legislation related to digital financial assets and cryptocurrencies during the upcoming spring session. The spring session of the Russian parliament typically runs from mid-January to July, meaning the bill could be reviewed and passed within the next few months. The new regulations are expected to officially take effect on July 1, 2026.

This timeline aligns with the development pace of the global crypto market. Under the Trump administration, the US is establishing a crypto-friendly regulatory framework; the EU’s MiCA regulation has already been implemented; and many Asian countries are accelerating crypto legalization. Russia’s legislative moves demonstrate that, even amid geopolitical tensions, countries are converging in crypto regulation—from outright bans or strict controls to conditional openness and regulatory inclusion.

For the global crypto market, Russia—home to 140 million people and rich energy resources—embracing cryptocurrencies will have profound impacts.