Russia Prepares Major Shift to Allow Retail Crypto Access

Russia is poised to enact sweeping reforms to its digital asset regulations, marking a strategic pivot toward controlled cryptocurrency adoption. The proposed legislation WOULD grant retail investors access to approved cryptocurrencies through licensed platforms, albeit with strict annual limits set at 300,000 rubles. Risk-awareness checks will be mandatory for platform access, creating a gated entry point into the market.

Digital assets will transition from special oversight categories to general financial regulations, standardizing their treatment across markets. This MOVE aligns crypto with broader financial reporting frameworks while maintaining the ban on domestic payments—cryptocurrencies will be classified as investment instruments rather than legal tender.

Professional traders gain expanded access under the new rules, provided they meet undefined criteria. Meanwhile, tighter exchange licensing requirements aim to curb fraud and repatriate crypto activity to regulated Russian platforms. The overhaul reflects authorities' response to surging domestic crypto use despite previous restrictive policies.