Russia has approved a federal law letting retail investors buy cryptocurrencies through licensed platforms, while keeping its ban on using crypto to pay for goods and services. The law takes effect September 1, 2026, and caps annual retail purchases while leaving cross-border crypto settlements far less restricted.
Russia has approved a new legal framework allowing retail investors to buy cryptocurrencies through regulated platforms. It marks one of the country's biggest crypto policy shifts in recent years, even as the country keeps its long-standing ban on paying for goods and services with digital assets.
Retail access comes with strict limits
The federal law, published on August 4, takes effect on September 1, 2026. Retail investors will be allowed to purchase selected liquid cryptocurrencies through licensed intermediaries after passing a mandatory investor assessment, with annual purchases capped at ₽300,000 per intermediary.
Bank of Russia officials will decide which cryptocurrencies qualify for retail trading based on liquidity requirements, though they have not yet published that list. Investors who complete a further qualification test face no such caps and may trade any cryptocurrency permitted under the framework.
A regulated market of licensed crypto exchanges, brokers, asset managers, and digital asset depositories also takes shape under the law. Operators have until July 1, 2027, to obtain licences and comply with the new rules.
Cross-border settlements face fewer restrictions
The legislation is considerably more flexible for international trade than for retail investors. Russian exporters and importers can use cryptocurrencies for cross-border settlements without the investment limits applied to retail buyers.
Businesses may complete transactions directly or through regulated intermediaries and can use different cryptocurrencies and wallet arrangements. However, counterparties outside Russia must still comply with sanctions, anti-money-laundering requirements, and their own jurisdictions' rules.
Payments ban still separates investment from currency
The law's immediate effect on global crypto markets is likely to be measured: retail investment stays capped, and the Bank of Russia has not yet named the cryptocurrencies eligible for trading.
Digital assets, meanwhile, still cannot be used as payment. They remain barred as a means of paying for goods and services inside Russia, so the framework expands investment and international settlement channels rather than replacing the rouble in everyday commerce.
Sources: Bank of Russia, AMBCrypto
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