Catenaa, Monday, December 29, 2025- Russia’s central bank has proposed new rules allowing non-qualified investors to trade limited cryptocurrencies, broadening access while keeping strict controls on use, scope and reporting.
The Bank of Russia said the framework would let both qualified and non-qualified investors buy and sell cryptocurrencies under separate conditions, while banning crypto and stablecoins for domestic payments. The assets would be treated as foreign currency instruments.
Under the proposal, non-qualified investors must pass a risk awareness test before trading. Their access would be restricted to highly liquid tokens and capped at 300,000 rubles, or about $3,846, per intermediary each year.
Qualified investors and intermediaries would be allowed to trade most cryptocurrencies, except privacy-focused tokens using smart contracts that conceal transaction details. They would face no investment cap but must also complete the same risk test.
The plan would also allow Russian residents to buy crypto on foreign exchanges using overseas bank accounts. Investors could move existing digital assets abroad through Russian intermediaries, though all such activity must be reported to tax authorities.
The central bank has submitted the proposal to the government for review. It said legislative changes could be completed by July 1, 2026. Penalties for unlicensed crypto intermediary activity would begin in July 2027.
The proposal expands on an earlier plan that limited crypto trading to qualified investors under a three-year experimental regime. Officials have said the goal is to improve market transparency and set clearer standards for crypto services.
Russia is also preparing a phased national rollout of its digital ruble starting Sept. 1, 2026. A law passed in July requires merchants earning more than 120 million rubles a year to accept digital ruble payments from that date. Mid-sized firms follow in 2027, with full adoption by 2028.
