Russia Allows Crypto Purchases for All Investors with Restrictions

The Bank of Russia has released a new regulatory concept that allows both qualified and non-qualified investors to buy cryptocurrencies and stablecoins as "currency values," while maintaining a ban on their use for domestic payments.

Key Details

Qualified investors can buy any cryptocurrency except privacy-focused tokens, with no volume cap, after passing risk awareness tests.
Non-qualified investors can buy a limited list of liquid cryptocurrencies through licensed intermediaries, capped at 300,000 rubles (approximately $3,800) annually per intermediary.
Crypto activity will be routed through existing financial infrastructure, with licensed exchanges, brokers, and trust managers handling flows.
Russian residents can purchase crypto on foreign exchanges using foreign bank accounts and transfer previously purchased crypto abroad via Russian intermediaries, with tax notification.
The legislative framework is expected by July 1, 2026, with penalties for unlicensed crypto intermediation effective from July 1, 2027.

Market Context

This initiative follows gradual liberalization in the market, initially targeting only "specially qualified" individuals.
Cryptocurrencies in Russia are seen strictly as investment instruments, not as money.
The move aligns with broader sanction responses, including legalized crypto mining and discussions around domestic stablecoin alternatives to reduce reliance on Western issuers.

Russia Crypto Regulation

The structure favors high-liquidity, large-cap assets such as Bitcoin and Ethereum for retail and professional investors alike. Last trading figures show BTC around $96,200, up 2%, and ETH near $3,260, up 1%.