State Duma passed Russia’s first comprehensive crypto framework; most rules set for Sept. 1. TASS cited. Special registry for exchanges; operate without registration until July 1, 2027. Banks must refuse transfers if unauthorized exchange suspected. Judicial protection for digital currency holders.
Retail: most liquid cryptos via licensed intermediaries; ~$3,800 annual cap per intermediary. Qualified investors: any crypto without restrictions (CoinDesk framing). Domestic payments ban holds; advertising of crypto payments banned. Exceptions: foreign trade settlements, mined crypto transactions, platform-required payments, securities/digital asset settlements. Context: EU sanctions targeting Russian crypto providers.