Russia is moving to tighten control over its crypto market proposing a framework that restricts trading to state-approved intermediaries while placing limits on retail investors.
Under the plan, cryptocurrency transactions would only be allowed through licensed platforms such as exchanges, banks, or brokers that comply with regulatory requirements. Direct peer-to-peer trading without these intermediaries would be effectively banned signaling a shift toward a more controlled, institution-led market.
The framework introduces strict caps for everyday investors. Non-qualified users would be required to pass a knowledge test and would face an annual purchase limit of around 300,000 rubles (roughly $3,000–$4,000), while access would be limited to a list of highly liquid cryptocurrencies approved by the central bank.
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By contrast, ‘qualified‘ investors, typically wealthier or more experienced participants, would be allowed to trade without volume restrictions though they would still need to meet certain compliance requirements.
The proposal also establishes a licensing regime for crypto service providers bringing exchanges and custodians under tighter oversight and allowing traditional financial institutions to participate under strict rules. At the same time, Russians would still be able to buy crypto abroad using foreign accounts provided those transactions are reported to tax authorities.
Overall, the policy reflects Moscow’s attempt to legalize and domesticate crypto activity, maintaining access to digital assets while ensuring that trading flows through regulated, state-monitored channels rather than the open, global crypto market.
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