Russia Prepares to Loosen Its Strict Crypto Rules
Russia is gearing up for a major shift in its crypto regulatory landscape, signaling the end of its elite, “highly qualified” investor-only system. For years, access to crypto in the country has been tightly restricted under an experimental framework that allowed only wealthy individuals and institutions to legally buy or trade digital assets. Now, financial regulators say they’re ready to open the door to a far wider range of investors, marking one of Moscow’s biggest policy pivots since the start of its digital-asset trials.
Deputy Finance Minister Ivan Chebeskov confirmed this week that the government and central bank are prepared to abandon the “superqual” model, a controversial requirement that limited crypto participation to high-income Russians.
Ending Crypto Access for the Elite Few
Under the current rules, only “highly qualified investors” - known locally as the “superquals” - can legally purchase or trade cryptocurrencies or crypto-linked derivatives. To qualify, individuals must show at least 100 million rubles in bank deposits or securities (around $1.2 million) and 50 million rubles in annual income (~$600,000).
The Ministry of Finance and the Central Bank are now working to replace the superqual-only model with a tiered access system that will allow different types of investors - from beginners to professionals - to participate under tailored risk rules.
Chebeskov noted that while “some grading” may remain, the key question now is how wide to open the doors and how to properly categorize investor tiers.
Why Russia Is Finally Changing Course
Despite years of political resistance to mainstream crypto trading, the Bank of Russia has shifted its position under growing economic pressure. Western sanctions, imposed after Russia’s invasion of Ukraine, have restricted cross-border payments and accelerated the need for alternative settlement tools, including digital assets.
In March, the central bank submitted a proposal for an “experimental legal regime” (ELR) allowing companies to use crypto for international transactions. Since then, regulators have also:
- Allowed “superquals” to access crypto-related derivatives
- Permitted financial institutions to offer crypto-tracking products
- Proposed expanding crypto usage under controlled conditions
A major development came last week when sources revealed that regulators want to let brokers, exchanges, and asset managers offer crypto-linked derivatives directly - for the first time in Russia’s history. A central bank representative confirmed the plan.
More Crypto Integration Is on the Way
Russia’s shift is not limited to derivatives. The Bank of Russia said it will allow investment funds to purchase crypto-linked products next year, following amendments to existing financial regulations.
Even more significant: the central bank announced in October that Russian banks may soon be permitted to work directly with cryptocurrencies, under a dedicated regulatory system.
Central Bank Governor Elvira Nabiullina added that Russia will adopt full-scale crypto legislation in 2026, ending the need for the ELR altogether. According to her, the new rules could allow non-elite investors to trade crypto - as long as their risk awareness is properly tested.
A New Era for Russian Crypto Users
The planned reforms would overturn years of restrictive policy and move Russia toward a broader, more accessible crypto market. If implemented, millions of Russians will gain legal access to cryptocurrencies for the first time, replacing a system built around a financially privileged minority.
For now, regulators say they’ve reached “consensus on most issues”, with final decisions expected in the coming months.
