Overview
- Russia approved a package of bills that makes crypto trades legal only through licensed intermediaries and outlaws direct peer-to-peer deals.
- Banks are prohibited from processing payments to unlicensed foreign platforms, which cuts off direct top-ups to many offshore exchanges.
- Non-qualified retail buyers face an annual cap of about 300,000 rubles per intermediary and are limited to a central-bank list of high-liquidity coins.
- Residents may still purchase crypto from foreign accounts if they notify the Federal Tax Service about those transactions.
- Qualified investors can access a wider range of assets after tests on licensed platforms, as regulators prepare a staged rollout with stronger penalties into 2027.