- Russia’s new cryptocurrency framework takes effect Sept. 1, allowing retail investors to buy Bitcoin, Ethereum and USDT through licensed intermediaries.
- Retail investors must pass a knowledge test and face a 300,000-ruble annual purchase limit per licensed intermediary, while qualified investors have no purchase cap.
- Crypto payments for domestic goods and services remain banned, although digital assets can be used for certain international trade settlements.
Russia’s new cryptocurrency law has officially taken effect, creating a regulated market for Bitcoin, Ethereum and USDT while keeping strict restrictions on how digital assets can be used inside the country.
The law, signed by President Vladimir Putin on Aug. 4, places crypto exchanges, brokers, custodians and other intermediaries under the supervision of the Bank of Russia.
Existing market participants have until July 1, 2027, to comply with the new licensing requirements.
Cryptocurrencies are also recognized as property under the framework, giving owners greater legal protection over their digital assets.
Retail Investors Gain Access to BTC, ETH and USDT
One of the biggest changes is the introduction of regulated crypto access for non-qualified investors.
Retail investors can now purchase Bitcoin, Ethereum and Tether’s USDT through licensed domestic intermediaries after completing a required knowledge test.
However, access remains tightly controlled. Non-qualified investors can purchase up to 300,000 rubles, approximately $3,700, per licensed intermediary each year.
Qualified investors are not subject to the same purchase limit.
Other major cryptocurrencies, including XRP, Solana and Cardano, are not currently included among the approved assets for retail investors.
Crypto Payments Remain Banned Inside Russia
Despite expanding investment access, Russia is maintaining its restrictions on cryptocurrency payments.
Bitcoin, Ethereum, USDT and other cryptocurrencies cannot be used to pay for goods, services, rent or other domestic transactions. The ruble remains Russia’s legal tender.
The framework does, however, allow exporters and importers to use cryptocurrency for international trade settlements.
That could give Russian businesses another method of settling cross-border transactions amid international sanctions and restrictions affecting traditional banking channels.
Sberbank expects regulated crypto exchanges could process as much as 4 trillion rubles, or approximately $46.4 billion, in their first year.
The bank also plans to accept Bitcoin, Ethereum and USDT as collateral for corporate loans, potentially expanding institutional use of digital assets.
Digital Ruble Rollout Begins Alongside Crypto Rules
The new cryptocurrency framework arrives alongside another major change to Russia’s financial system: the broader rollout of the digital ruble.
Major Russian banks are required to provide digital ruble wallets, while retailers generating more than 120 million rubles in annual revenue must accept digital ruble payments.
The two systems remain fundamentally different. Russia is allowing regulated investment and certain cross-border uses of decentralized cryptocurrencies while keeping them out of everyday domestic payments.
At the same time, the government is expanding the digital ruble as a state-backed payment option.
With regulated crypto trading now opening to retail and institutional participants, Russia’s digital asset market could grow substantially. Estimates suggest crypto trading volume in the country could reach $87 billion by 2029.
