Deputy Head of the Russian Ministry of Finance Ivan Chebeskov said in an interview that Russian tax residents will be required to report all crypto transactions outside the regulated framework, including those conducted through non-custodial wallets, to the Federal Tax Service (FTS). The notification must be submitted within 180 days after the reporting form is approved.

Criminal liability for unlicensed exchange from July 1, 2027

According to Chebeskov, there are no plans to criminalize regular P2P transactions by individuals with their own cryptocurrency. Criminal liability after July 1, 2027, will apply to organizing crypto exchanges without a license or registration; penalties will depend on the income received or the damage caused.

Limit for non-qualified investors — 300,000 rubles per year per intermediary

Non-qualified investors will be able to purchase cryptocurrency up to 300,000 rubles per year through a single intermediary after passing a test. Qualified investors will also have to confirm their understanding of the risks.

Licensing of exchanges and reduced capital threshold

Independent crypto exchanges will be able to obtain a license. The minimum required capital for them has been reduced from 30 million to 15 million rubles to prevent the market from being controlled by a few large banks.

Russian stablecoins under discussion, no model or draft law yet

The Ministry of Finance and the Bank of Russia are discussing the creation of Russian stablecoins, but there is currently no specific model or separate draft law.

If an issuer blocks USDT or USDC purchased through a Russian intermediary, the investor will bear the losses, not the Russian depository.

According to Chebeskov, there are about 20 million cryptocurrency users in Russia, with total investments amounting to 3.7 trillion rubles and a daily market turnover of approximately 50 billion rubles. The main goal of the new regulation is to create a transparent and legal crypto market; the Ministry of Finance does not yet have specific targets for moving operations out of the "gray" zone. Authorities plan to study the practice of cryptocurrency use and, based on this, decide how to further adjust regulation.