ChainCatcher report, according to China News Service, Russian President Putin signed a law on September 4 establishing comprehensive regulation of digital currencies and digital rights. The relevant documents have been published on Russia’s official legal information website. The law defines operational rules for cryptocurrency exchange platforms, digital asset custodians, and other market participants, and sets conditions for investors purchasing cryptocurrencies. It regulates relationships concerning the circulation, accounting, and storage of digital currencies and foreign digital instruments, as well as mining activities, issuance, and circulation of digital rights. The law also establishes regulatory oversight for operators of information systems issuing digital financial assets, cryptocurrency exchanges, digital asset custodians, brokers, asset management companies, trading organizers, and clearing institutions. Under this law, Russian citizens may legally invest in cryptocurrencies through domestic exchanges and utilize services provided by brokers, trustees, asset management companies, and cryptocurrency exchanges when conducting cryptocurrency transactions and related operations. Registration and custody of cryptocurrencies will be handled by digital custodians approved by the Central Bank of Russia, and market participants must comply with strict cybersecurity requirements. The Central Bank of Russia will also establish a registry of cryptocurrency exchange operators, incorporating credit institutions and brokers under a notification-based regulatory framework. The law will take effect on September 1, although certain provisions will come into force on July 1, 2027, or September 1, 2027.
Russia Enacts Comprehensive Law to Regulate Digital Currency and Digital Rights
ChaincatcherShare
Summary
Russia has enacted digital asset regulations to govern liquidity and crypto markets, as President Vladimir Putin signed a law on August 4. The law establishes operational rules for exchanges, custodians, and investors, covering the circulation, storage, mining, and issuance of digital assets. It requires oversight of exchanges, custodians, brokers, and clearinghouses. Citizens may now legally invest in crypto through domestic platforms. The Central Bank will manage registration and custody via approved custodians. The law takes effect on September 1, with certain provisions to be implemented by 2027.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.