Russia's New Crypto Law Set to Reshape Markets by 2026

Russian President Vladimir Putin signed a law to regulate the cryptocurrency market.

Kremlin's Digital Vision: The New Crypto Law

New Requirements for Market Players

■Law 1194918-8, titled “On Digital Currencies and Digital Rights,” was enacted.

■Crypto exchange operators must join a Financial Market Self‑Regulatory Organization.

■Retail investors may purchase approved crypto assets through intermediaries with an annual cap of 300,000 rubles ($3,700).

■Qualified investors will be allowed unrestricted crypto trading.

■Core provisions become effective on 1 September 2026; certain rules, such as those for non‑resident digital depositories, take effect on 1 July 2027.

■The ban on using crypto assets for payment of goods and services remains in force.

The Russian framework mirrors aspects of the EU’s MiCA regime, yet the stringent retail caps and delayed rollout may suppress liquidity and compel institutional players to adjust their risk models.