On August 4, Russian President Vladimir Putin enacted the law "On Digital Currencies and Digital Rights." This was accompanied by Federal Law 283-FZ, which aligns related acts, including those concerning the securities market and anti-money laundering regulations. The primary provisions will take effect on September 1, 2026, with a transition period ending on July 1, 2027.

The law outlines an infrastructure that is currently absent, as retail investors hold funds elsewhere. According to the Bank of Russia's assessment, by April 2026, the average monthly balances of Russians on foreign exchanges are expected to reach 720 billion rubles. In contrast, investments in domestic instruments linked to the same quotes were significantly lower at 3.8 billion rubles.

ForkLog, in collaboration with the ONLYP2P team, explored what cryptocurrency sellers will need to demonstrate by 2027, who will enter the regulated market, and which channels will remain for others.

Who is Behind the Regulated Market

The calendar for the remainder of 2026 and the first half of 2027 is currently filled with promises.

DateExpected EventsFall 2026Expected issuance of subordinate legislation. At the end of July, the Bank of Russia put forward for discussion the conditions for organized trading and requirements for depositories, and on August 11, it published limits for non-qualified investorsDecember 1, 2026Sberbank promises to launch a digital depository and cryptocurrency tradingEarly 2027Moscow Exchange is preparing a separate structure for crypto assetsJuly 1, 2027Exchanges must register with the Bank of Russia, Article 171.7 of the Criminal Code and fines under the Administrative Offenses Code come into effect

The creation of infrastructure will be undertaken by those already possessing licenses and capital. Since 2022, Sberbank has been among the operators of information systems, with similar status held by VTB, Alfa-Bank, T-Bank, and PSB. In total, there are 24 such companies.

In August, major banks requested economic justifications for transactions involving USDT from corporate clients and confirmation that their counterparties are included in the list of digital currency exchange operators. However, such a registry does not yet exist.

“Cryptocurrency is now becoming a fully regulated financial instrument, which increases the volume of inquiries and concerns from banks regarding its nature, origin, and source of funds,” commented cryptocurrency expert Viktor Pershikov to ForkLog.

Keys Remain with the Intermediary

The storage and accounting of cryptocurrency on the regulated market will be managed by licensed intermediaries: they will hold clients' assets, conduct verifications, and report on transactions.

“Fundamentally, the Russian jurisdiction only permits storage in custodial wallets, but at the same time, there is the possibility to operate outside of Russian jurisdiction, beyond Russian financial intermediaries, allowing the use of cryptocurrencies in non-custodial wallets,” explained Vladimir Chistyukhin, First Deputy Chairman of the Bank of Russia.

While holding coins in a non-custodial wallet is not prohibited, transferring assets from a Russian depository to such a wallet will not be possible; funds can only be sent to verified accounts, including those on foreign exchanges.

Three Crypto Assets and a Limit of 300,000 Rubles

Trading will be allowed for both categories of investors. Non-qualified investors must first pass a test and then adhere to an annual limit through a single intermediary. Qualified investors also take an exam but face no monetary limits.

The specific figures were published by the Bank of Russia on August 11 in a draft guideline. Each broker, crypto exchange, or manager will allow a non-qualified investor to purchase cryptocurrency worth up to 300,000 rubles annually. The regulator is accepting comments until August 24, and the guideline will come into effect ten days after its official publication.

Only a few assets will be available for organized trading. A cryptocurrency must meet three criteria simultaneously:

  1. Average capitalization over two years exceeds 5 trillion rubles.
  2. Average daily trading volume over the same period exceeds 1 trillion rubles.
  3. Licensed foreign exchanges must have published quotes for at least five years, with a turnover of at least 100 billion rubles.

An appendix to the same document lists the coins that the trading organizer may permit for public circulation: Bitcoin, Ethereum, and Tether USDT. Chistyukhin had indicated these three assets as a benchmark back in June, cautioning that the regulator does not plan to expand the list initially.

Using cryptocurrency for domestic transactions remains prohibited, with exceptions made for foreign trade contracts, mining, and network fees.

ComparisonRegulated Market from July 1, 2027Channels without VerificationAvailable AssetsBitcoin, Ethereum, and USDT per CB projectAny coins from the platformStorageOnly with licensed depositoryAt the owner's discretionWhat the Client ProvidesPassport, transaction history, reporting on transactionsPayment detailsWhat the Client ReceivesLegal protection, tax accounting, known counterpartySpeed and less data disclosed

While the Window is Open

The transition period is not yet over, allowing for continued choice of tools. One such tool is ONLYP2P, a Telegram bot for selling coins for rubles with deposits made to a card or through the Fast Payment System. This service is part of the ONLY ecosystem, which ForkLog has previously reported on. According to the team, the service has grown to 80,000 active users over two years.

No registration or verification is needed. Users initiate the bot, select a coin, and send funds to a generated address: USDT on the TRC-20 network, Bitcoin, Litecoin, and transfers via CryptoBot and xRocket are available. Amounts are calculated based on the exchange rate with a 7% markup, with the rate fixed at the time of exchange. For instance, 500 USDT at 80 rubles converts to 42,800 instead of 40,000. Users then provide their details and wait for the payer. The bot automatically matches incoming requests, eliminating the need to place an order in the order book.

“The markup arises from the difference between the exchange rate and the price at which payment services are willing to purchase rubles. It’s part of the mechanics, not a temporary promotion,” the ONLYP2P team explains.

The limits are designed for everyday amounts: between 1,000 and 50,000 rubles per transaction and no more than 100,000 rubles daily. According to the team, the typical request does not even reach 20,000 rubles, often for freelance work, subscriptions, or family transfers.

Related tasks are handled by neighboring products of ONLY. OnlyUSDT delegates Energy in TRON and reduces the cost of transferring USDT from about 13 to 3.3 TRX. SwapGO exchanges coins among themselves with a 1% commission, while OnlyTRX stakes TRX at an annual rate of 15–18%. Payment services can connect APIs for payouts. Users are advised to verify bot addresses through the common channel, which warns about phishing clones.

A Year for Preparation

The upcoming year will see the market operating in two modes simultaneously: the Bank of Russia will continue to supplement the missing regulations with subordinate legislation, while traditional channels will remain operational until the end of the transition period. The distinction between them will be measured not only by exchange rates but also by the amount of information the seller provides about themselves.

There are twelve months available to gather proof of the origin of coins and determine which portion of savings will transition into the regulated market.