Central Bank of Russia says crypto market could begin legal operations by year-end

Russia’s central bank expects the country’s cryptocurrency market to be fully legal and operational by the end of 2026. First Deputy Chairman Vladimir Chistyukhin made the announcement at the Moscow Financial Forum, noting that the timeline hinges on the Ministry of Justice moving quickly to register the necessary implementing regulations. The statement follows the signing of Federal Law No. 282-FZ, “On Digital Currencies and Digital Rights,” on August 4, 2026. That law went into effect on September 1, creating the legal scaffolding for a Central Bank of Russia (CBR) supervised licensing regime covering exchanges, brokers, and depositories. What the new framework actually looks like Russia’s approach to crypto legalization is best described as “controlled access.” The law distinguishes between qualified and non-qualified investors, both of whom can trade cryptocurrency through licensed intermediaries. But non-qualified investors face a hard annual purchase cap of 300,000 rubles, roughly $3,700, per intermediary. The law also maintains Russia’s existing ban on using crypto for domestic payments. You can trade it, hold it, and use it for cross-border trade settlements, but you still ...