Russia's 2025 pivot sets stage for 2026 crypto rules; CBR touts "currency assets"

Russia ended 2025 with a marked shift in crypto policy, capped by the central bank's late‑December concept for comprehensive regulation. Mining gained legal status in late 2024, and in March 2025 an experimental regime enabled limited cross‑border crypto use, with derivatives allowed in May. A full framework is targeted for adoption by July 1, 2026.