Russia is edging toward a major shift in its crypto policy, as lawmakers finalize legislation that would allow non-qualified investors to participate in the cryptocurrency market under controlled conditions.
Draft Law Ready for Parliament
According to a report from state news agency TASS, Anatoly Aksakov, chairman of the State Duma’s Financial Markets Committee, confirmed that the draft bill is complete and will be reviewed during the spring parliamentary session. The move signals growing political momentum to normalize crypto usage within Russia’s financial system.
Aksakov explained that the legislation would remove cryptocurrencies from special financial regulation, positioning them as a more routine financial instrument.
Limited Access for Retail Investors
While the bill opens the door to broader participation, it stops short of full liberalization. Under the proposed framework, non-qualified investors will face a strict purchasing cap, limiting them to 300,000 rubles, or roughly $3,800, in crypto purchases. This threshold is designed to protect retail participants from excessive exposure to volatile assets.
Aksakov emphasized that professional market participants will not be subject to these limits, reinforcing a two-tier system that distinguishes experienced investors from newcomers. Lawmakers believe this structure balances market access with financial stability, a recurring concern among Russian regulators.
Cross-Border Ambitions Take Shape
Beyond domestic trading, the legislation could have far-reaching implications for Russia’s international crypto strategy. Aksakov said the bill is expected to facilitate cross-border settlements and support the overseas placement of Russian-issued tokens, areas Moscow has increasingly explored amid geopolitical and financial constraints.
By formalizing crypto’s legal status, officials hope to expand its use in international commerce, particularly in scenarios where traditional financial rails face friction. This aligns with Russia’s broader efforts to explore alternative settlement mechanisms outside conventional systems.
Central Bank Signals Cautious Support
The latest developments follow earlier signals from the Bank of Russia, which has historically taken a conservative stance on crypto. In December, the central bank proposed a framework that would allow non-qualified investors to trade crypto only after passing a risk-awareness test, while continuing to ban anonymous and privacy-focused digital assets.
Officials argued that investor education and transparency are critical to preventing misuse and protecting consumers, particularly as retail participation expands.
Coordinated Policy Across Institutions
Around the same time, Finance Minister Anton Siluanov confirmed that the Finance Ministry and the central bank were working on a coordinated approach to open the crypto market while keeping risks contained. According to TASS, both institutions agree that capping retail transaction volumes is essential to avoiding systemic threats.
This coordinated messaging suggests that Russia’s evolving crypto policy is no longer fragmented, but increasingly aligned across key financial authorities.
A Calculated Opening for Crypto
Taken together, the bill represents a measured opening of Russia’s crypto market, rather than a free-for-all. By combining investment caps, risk tests, and asset restrictions, lawmakers aim to integrate crypto into the financial system without exposing everyday investors to unchecked volatility.
If passed, the legislation could mark a turning point, making crypto more accessible to Russian citizens while preserving the government’s emphasis on control and oversight. As the spring session approaches, attention will now turn to how quickly the bill advances-and how markets respond.
