The leadership of Russia’s lower house of parliament has announced plans for comprehensive cryptocurrency market regulations, expected to be finalized by June and implemented on July 1, 2027. Anatoly Aksakov, head of the State Duma Committee on Financial Markets, indicated that both qualified and unqualified investors will have the opportunity to purchase cryptocurrencies, albeit under distinct sets of regulations.
Proposed guidelines include a purchase cap for retail investors set at 300,000 rubles (approximately $4,000). Meanwhile, qualified investors, who must pass mandatory testing to demonstrate their understanding of the risks involved in cryptocurrency transactions, will not face limitations on the quantity of crypto assets they can acquire—except for anonymous currencies.
Aksakov revealed that the regulatory framework will incorporate penalties for unlawful activities conducted by cryptocurrency intermediaries, mirroring the sanctions imposed for illegal banking practices. This development follows the central bank’s efforts, initiated in December, to establish a regulated environment for cryptocurrency trading, indicating a gradual shift in its stance towards digital currencies, although it continues to issue warnings about the risks associated with crypto investments.
Additionally, the central bank has recognized digital currencies and stablecoins as monetary assets, though they remain prohibited for domestic transactions. In terms of cryptocurrency mining, Aksakov mentioned intentions to enable miners to ‘legalize’ their activities, alongside provisions for imposing administrative and criminal penalties for illicit conduct within the sector.
Insights from legal experts indicate that the central bank will compile a list of the top five to ten cryptocurrencies authorized for trading, likely including Bitcoin (BTC) and Ethereum (ETH). Popular alternatives such as Solana (SOL) or Toncoin (TON) may also find a place on this list, primarily accessible to qualified investors. The central bank has made it clear that purchases involving coins that obscure their intended recipients, such as Monero (XMR), Zcash (ZEC), and Dash, will not meet anti-money laundering (AML) standards and, therefore, will be disallowed under the new regulations.
