Bank of Russia sets 2026 crypto rules with 300,000-ruble cap and tests

The Bank of Russia proposed a tiered crypto regime to be finalized by 1st July 2026, with criminal liability from 1st July 2027 for brokers operating outside the rules. Retail investors face mandatory knowledge tests and a 300,000-ruble annual cap, while qualified investors can trade most assets except anonymous coins after a risk test.