Russia is preparing to open up cryptocurrency access for everyday users, signaling a major shift in its approach to digital assets. Lawmakers say crypto could soon become a “common occurrence” in daily financial activity, as a new bill aimed at deregulating parts of the market is set to enter the legislative process.
According to senior officials, the proposed legislation would remove cryptocurrencies from special financial regulation, allowing broader use while still maintaining oversight. The move follows a policy change by the central bank, which recently softened its earlier stance that once favored a complete ban on crypto activity.
Under the draft rules, non-qualified investors, including retail traders, would be allowed to purchase cryptocurrencies within a capped limit of 300,000 rubles. Meanwhile, professional participants who meet income or knowledge requirements would be permitted to trade digital assets without restrictions.
Officials have also highlighted the role of crypto in cross-border transactions, particularly as Russian individuals and businesses continue to seek alternatives for international settlements. While crypto is legally treated as property rather than legal tender, its use for overseas transfers has increased in recent years.
Authorities are also considering new rules for crypto exchanges, citing concerns over fraud and unregulated platforms operating outside the country. The goal is to establish clear legal conditions for exchange operations, reduce scams, and bring more activity under domestic oversight.
Overall, the proposed changes point to greater normalization of cryptocurrencies within Russia’s financial system, balancing wider access with regulatory control.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.