Bank of Russia: Crypto is now legal, but do not buy it unless…

For a long time, Russia treated cryptocurrency like the enemy.

In 2022, the government tried to ban everything, from mining Bitcoin to trading it, fearing it would hurt the country’s financial stability.

But now, that hardline approach is changing.

Russia has officially flipped its script by launching a new plan to let people buy and sell crypto legally.

This isn’t because the government suddenly loves Bitcoin [BTC], but it’s because they’ve realized they can’t stop it.

Under this new system, regular investors will finally have a legal way to own digital assets, but it comes with a catch: strict government limits and constant supervision.

Russia’s 2026 crypto rules

Under the proposed law, Russia is moving away from a “one-size-fits-all” ban toward a tiered system that separates investors into two groups.

For instance, “qualified” investors, those with significant capital and experience, will have the green light to trade most cryptocurrencies.

“Qualified investors will be able to purchase any cryptocurrency, except anonymous ones, without any restrictions on transaction volumes, but only after passing a test to ensure an understanding of their risks.”

Meanwhile, “non-qualified” or retail investors will face more hurdles, including a mandatory knowledge test and a strict 300,000-ruble annual limit on their purchases.

This shows that even as the government opens these legal doors, the Bank of Russia is keeping its guard up.

It still classifies crypto as a high-risk gamble, warning that since these assets aren’t backed by any country, they remain dangerously volatile and highly vulnerable to international sanctions.

“When deciding to invest in crypto assets, investors should understand that they assume the risk of potential loss of their funds.”

Not building from scratch

Notably, instead of building a new system from scratch, the Bank of Russia plans to use the financial tools already in place.

Existing exchanges, brokers, and investment managers will be able to trade crypto using their current licenses, while only specialized “crypto vaults” (depositories) will face new, specific requirements.

Interestingly, Russians can still buy crypto through foreign accounts, provided they report it to the tax office.

This plan also boosts the Digital Financial Asset (DFA) market, allowing Russian companies to attract global investment through tokenized assets.

However, the clock is ticking as the government aims to finalize this entire legal framework by 1st July 2026.

One year later, on 1st July 2027, the grace period ends, and any broker operating outside these rules will face criminal liability, similar to the penalties for illegal banking.

What’s more?

This further coincided with Russia’s easing access to crypto-linked mutual funds while simultaneously tightening penalties for unauthorized mining. 

All in all, this shows that Russia isn’t warming to crypto for the sake of adoption; rather, it’s shaping a framework where digital assets strengthen state strategy while keeping everyday users at arm’s length.

Final Thoughts

• Mandatory tests and spending caps show the state’s deep distrust of letting ordinary citizens participate freely in digital asset markets.
• With DFAs, Russia is opening channels for global capital without relying on Western financial systems.