Putin Signs Russia's First Comprehensive Law Governing Crypto and Digital Rights

Russian President Vladimir Putin has signed a new law creating Russia's first comprehensive regulatory regime for cryptocurrency and the circulation of digital rights, state news agency TASS reported. The law was signed on Aug. 4. The legislation sets out an operating framework for cryptocurrency exchanges, digital custodians and other market participants. It also regulates crypto mining and the issuance and circulation of digital financial assets (DFAs). Under the rules, crypto exchanges will be required to enter a special registry to operate. A transition period will run through July 1, 2027. Exchanges must also meet a minimum authorized capital requirement of 15 million rubles (about $187,000). The law keeps in place Russia's ban on using cryptocurrency to pay for goods and services domestically. It allows cryptocurrencies to be used for cross-border trade settlements and for handling proceeds from mining. Investor access will be split by status. Nonqualified investors will be capped at buying no more than 300,000 rubles (about $3,700) per year from each intermediary, while qualified investors will not face such limits. Banks will be empowered to freeze funds tied to suspected unauthorized cryptocurrency transactions. Most provisions are scheduled to take effect on Sept. 1, 2026, with additional clauses phased in on July 1 and Sept. 1, 2027.