Citing RBC, Russia's Central Bank has published a concept for regulating the cryptocurrency and digital assets market. The regulator has submitted proposals for legislative changes to the government, aiming to finalize the legal framework by July 1, 2026. Under the proposed rules, both qualified and non-qualified investors will be able to purchase crypto assets, but with different regulations for each group. Digital currencies and stablecoins will be recognized as currency values, allowing for buying and selling but not domestic use for payments. The Central Bank emphasized the high risk associated with cryptocurrencies, noting their volatility and sanction risks. Qualified investors will have no transaction limits but must pass risk-awareness tests, while non-qualified investors will be limited to 300,000 rubles annually through a single intermediary. Operations will be conducted via existing infrastructure, with specific requirements for special depositaries and exchanges. The new regulations will also impact the market for digital financial assets (CFAs), which will be allowed to circulate in open networks. Russian CFAs are tokenized versions of real assets issued via blockchain technology, excluding traditional cryptocurrencies. Issuance will be limited to operators approved by the Central Bank, including Sber, A-Token, and others.
Russia's Central Bank Publishes Crypto Regulation Framework
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Summary
Russia's Central Bank has released a draft for digital asset regulation, outlining a compliance framework for the crypto market. The regulator has proposed legislative changes to the government, targeting a final legal framework by July 1, 2026. Under the plan, both qualified and non-qualified investors can buy crypto assets, but with distinct rules. Digital currencies and stablecoins will be treated as currency values, enabling trading but not local payments. Qualified investors face no transaction limits but must pass risk tests, while non-qualified investors are capped at 300,000 rubles annually. The Central Bank highlighted the risks of volatility and sanctions. Digital financial assets (CFAs) will be allowed in open networks, with issuance limited to approved operators like Sber and A-Token.
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