Russia Plans Retail Crypto Access Under Central Bank Safeguards

• Russia plans limited crypto access for retail investors, with caps on volumes and exposure still under review.
• Central bank framework would allow non-qualified investors to buy only the most liquid crypto assets.
• Legislation aims for approval by mid-2026, with criminal penalties for illegal crypto services to be implemented by 2027.

Russia is preparing to open parts of its cryptomarket to ordinary citizens, marking a shift in the country’s regulatory approach to digital assets. The move, confirmed by Finance Minister Anton Siluanov, reflects growing coordination between the Ministry of Finance and the Central Bank of Russia on how cryptocurrencies should be legally defined and accessed within the Russian financial system.

Speaking in a recent interview broadcast on Rossiya-24 and cited by TASS, Siluanov said authorities are ready to allow non-qualified investors to participate in the crypto market, provided specific safeguards are put in place. According to the minister, the Ministry of Finance and the central bank are aligned in principle but are still finalizing restrictions designed to limit risk exposure.

Siluanov explained that regulators are considering caps on transaction volumes and overall investment amounts for retail participants. These limits, he said, are intended to reduce potential losses associated with price volatility while allowing controlled access to digital assets.

Central Bank Framework Shapes New Policy

The finance minister’s remarks align with a regulatory concept released earlier by the Bank of Russia. That document outlines a comprehensive legislative framework expected to be introduced by next summer. Under the proposal, non-qualified investors would be permitted to purchase only the most liquid cryptocurrencies, while broader access would remain restricted.

The central bank’s plan builds on earlier initiatives, including an experimental legal regime launched this year that allows a limited number of “highly qualified” investors and selected companies to use cryptocurrencies, primarily for foreign trade transactions.

Payments Use Highlighted Amid Sanctions

Siluanov also noted that cryptocurrencies are already being used in Russia, mainly for settlement purposes by both individuals and businesses. This usage has expanded as access to traditional cross-border payment channels has been constrained by Western sanctions linked to the conflict in Ukraine.

Despite acknowledging these practical uses, the finance minister reiterated that regulators do not view cryptocurrencies as suitable long-term savings or investment instruments due to their volatility.

Legislative Timeline and Enforcement Measures

According to the central bank, the proposed crypto legislation has been submitted for government review, with the goal of parliamentary approval by July 1, 2026. A separate set of amendments introducing criminal liability for illegal crypto services is expected to follow by July 1, 2027.

Beyond investor access, the framework would classify cryptocurrencies and stablecoins as “currency assets” and regulate exchange activity through existing and newly developed infrastructure, formalizing a market that Russian officials say already exists but lacks clear legal definition.