Russia’s parliament passes crypto market law with $3,800 annual cap for retail investors

Russia's State Duma has passed the country's first comprehensive cryptocurrency law, which will take full effect on September 1, 2026. This legal framework aims to regulate crypto exchanges, depositories, and other digital asset providers. Under the new legislation, only organizations listed in a special registry will be authorized to operate cryptocurrency exchanges, though existing firms can continue operating without registration until July 1, 2027. Banks are also required to block transfers if they suspect an unregistered entity is acting as a crypto exchange.

The law imposes an annual purchase limit of roughly $3,800 per licensed intermediary for retail investors, while qualified investors can trade cryptocurrencies without restrictions. Judicial protection is guaranteed for holders of digital currencies, regardless of whether the assets were previously declared. The legislation maintains Russia's ban on using cryptocurrencies for domestic payments and prohibits banks and other entities from advertising or promoting crypto payments.

Despite these restrictions, the law allows limited use of digital currencies in certain contexts, including foreign trade settlements between Russian residents and non-residents, transactions involving mined cryptocurrencies, payments required by digital asset platforms, and settlements involving securities or other digital assets. It also regulates crypto mining and the issuance and circulation of cryptocurrencies.

The new law arrives amid intensified European Union sanctions against Russia, including a complete ban on crypto providers and platforms established in the country. The EU has noted that Russia is increasingly relying on cryptocurrencies for international transactions. Russia’s central bank had initially proposed this regulatory framework in December 2025 to legalize and control crypto trading for both individuals and institutions, which the current legislation now formalizes.