On August 4, President Vladimir Putin signed a new law known as "On Digital Currency and Digital Rights," which establishes a regulatory framework for cryptocurrency in Russia. This law allows transactions involving cryptocurrencies through licensed exchanges, brokers, and regulated trading platforms, while digital depositories will oversee the management of rights associated with digital assets.
Under the new regulations, non-qualified investors will face an annual investment cap of 300,000 rubles per intermediary, contingent upon an evaluation process. Notably, businesses engaged in exporting and importing will be permitted to utilize cryptocurrency for international transactions without any limitations.
The law is set to come into force on September 1, with certain aspects of the legislation having a transitional implementation period extending until July 1, 2027.
