Russia clears draft laws to tighten crypto trading and limit retail participation

The Russian government has approved a package of draft bills that would channel domestic crypto trading to licensed intermediaries while limiting retail access.

Summary

• Russia has approved draft laws that would route domestic crypto trading through licensed intermediaries while restricting access for retail investors.
• Retail participation would be capped at 300,000 rubles per year, with eligibility tied to testing and a Bank of Russia-approved list of assets.

According to an announcement from the Finance Ministry, the Russian government has approved a set of draft laws that would formalize crypto trading in Russia by strictly requiring the use of “regulated intermediaries.” The framework would preserve limited access for non-qualified investors while expanding access to qualified investors.

Limits for the retail segment include restricting purchases to only the most liquid digital currencies, as defined by the Bank of Russia. Retail participants must also pass a test to qualify for trading and can purchase up to 300,000 rubles per year through a single intermediary.

Traders, however, would still be able to buy crypto abroad through foreign accounts, though such transactions must be reported to tax authorities.

The approved package also amends certain Russian legislative acts and introduces changes to the country’s administrative offenses code.

Entities involved in crypto operations, including exchanges and custodial service providers, would be required to obtain licenses under a newly established regulatory regime. Banks and brokers would be allowed to participate, provided they comply with specific prudential requirements.

The framework also introduces administrative liability for violations by parties engaged in exchange activity, aiming to curb unlicensed operations.

This development comes as regulators in Russia are working to bring different parts of the digital asset sector under tighter oversight.

Earlier this month, reports indicated that the Finance Ministry was preparing a separate bill to formally regulate digital assets pegged to fiat currencies.