Crypto in Russia has long existed in a grey zone between tolerance and restriction. Many people own digital assets, but clear rules on how they can be used, traded, or protected have been missing. That uncertainty may soon ease. Russian lawmakers are moving closer to a legal reset that would bring cryptocurrencies into the country’s formal financial system and make their use more straightforward for everyday users and businesses.
According to state media outlet TASS, Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, said lawmakers have finalized a draft bill that would remove cryptocurrencies from Russia’s “special financial regulation” category.
The proposal is expected to be discussed during the State Duma’s spring session and would apply to both cryptocurrencies and digital financial assets. In practical terms, this would mean treating crypto less as an exception and more like a regulated financial instrument.
Oluwajeminipe Fasheun-Motesho
Opening the Door to Retail Crypto Investing
One of the most significant changes is that ordinary, non-professional investors will finally be allowed to buy cryptocurrencies legally. Until now, access has been limited and tightly controlled, pushing many Russians toward offshore platforms or informal channels.
Under the draft bill, retail investors would be allowed to invest up to 300,000 rubles, roughly $3,800, in digital assets. The cap is designed to limit risk and protect everyday users from large losses in a highly volatile market. Qualified and professional investors, however, would be able to trade cryptocurrencies without these limits, reflecting their higher risk tolerance and experience.
The proposal also reflects closer coordination between Russia’s financial authorities. While the Bank of Russia has historically taken a hard line against crypto, its position has gradually softened. In December, the central bank suggested allowing retail crypto investments, provided investors complete a basic risk awareness check.
Finance Minister Anton Siluanov has confirmed that the Finance Ministry and the central bank are now working together on a unified crypto framework. The emphasis, he said, is on clear limits, investor protection, and oversight rather than outright bans.
Crypto’s Role in Cross-Border Payments
Beyond domestic use, the bill could also expand how Russia uses crypto internationally. Aksakov said the proposal may allow digital assets issued in Russia to be listed and used in foreign markets.
This matters as Russia continues to face restrictions in traditional financial channels. By enabling crypto-based cross-border settlements, the country could develop alternative payment routes for international trade, reducing reliance on banking systems that remain difficult to access.
If approved, the bill would mark a clear turning point in Russia’s crypto policy. Removing cryptocurrencies from special regulatory status would signal that lawmakers are ready to treat digital assets as a normal part of the financial system rather than an experimental exception.
With defined investor categories, spending limits, and clearer rules, crypto in Russia could move from the shadows into a more regulated and predictable space. The shift suggests the debate has moved on from whether crypto should exist to how it can be used safely within the financial system.
Damilare Odedina
