Russia just officially rolled out comprehensive crypto regulation. Starting September 1, the Central Bank is overseeing a licensed framework for crypto exchanges, brokers, OTC desks, and custodians. Retail (non-qualified) investors now face a cap: after passing a test, they can buy up to 300,000 rubles worth of the most liquid cryptocurrencies per year from each intermediary. There are no such limits for qualified investors.

What Launched on September 1

The new rules cover all the key parts of the market infrastructure: professional intermediaries now need a Central Bank license, and retail investors are subject to an annual purchase cap for liquid coins with each licensed participant. On top of that, investors must pass a test before they can get started.

Cross-Border Crypto Payments

Crypto is now allowed for cross-border payments outside the previous experimental mode. Domestic crypto payments inside Russia are still banned. The first international transactions under the new rules have already happened: Neobridge made a payment of several thousand USDT to import computer hardware from the UAE. Sber has also launched international crypto settlements for businesses.

Industry Groups and Bank Plans

Two major crypto industry associations are coming together in Russia. The founding meeting of AOTSV—the association of crypto exchanges—brought together over 100 market players; the group plans to apply for SRO (self-regulatory organization) status with the Central Bank. The NEXUS association from the Association of Russian Banks wants to bring in banks, crypto exchanges, custodians, and other companies, and is also aiming for SRO status.

MTS Bank has announced plans to open up crypto trading for its clients, with a basic launch targeted for Q4 2026. The bank is also considering launching its own crypto exchange and digital custodian service.

Next Steps for Regulation and Mining

The discussion period for ruble-backed stablecoin regulation is wrapping up now. The Central Bank is gathering market feedback on issuer requirements, reserves, redemption rules, and how these stablecoins could be used for investments and cross-border payments.

Rules for mining pools just got stricter: as of September 1, only individual entrepreneurs and Russian legal entities can operate mining pools in Russia.