Russia Legalizes Crypto Trading but Bans Paying with It for Everything

The State Duma approved the digital currency bill, constructing a heavily gated playground where digital assets are strictly handled by licensed domestic intermediaries. Under these rules, only specialized brokers, exchange operators, and digital depositories registered with the Central Bank of Russia are permitted to touch crypto trades. Any crypto exchange must be a domestic firm boasting at least 15 million rubles in capital, leaving zero room for rogue basement operators.

Using digital assets to purchase everyday goods and services remains entirely illegal within domestic borders, accompanied by an outright ban on advertising such payments. However, the state made a convenient carve-out for cross-border foreign trade settlement, mining rewards, network fees, and institutional investment maneuvers.

Public exchange trading is locked behind astronomical entry bars: a digital asset must maintain a two-year average market capitalization exceeding 5 trillion rubles and daily volumes above 1 trillion rubles. To keep tight control over the hash rate, mining is formally regulated while individuals with unexpunged criminal records are officially barred from running rigs. The framework officially takes effect on September 1, 2026, with the mandatory intermediary license rule kicking in by July 1, 2027.

A masterclass in financial paradox has emerged: establishing an ultra-exclusive legal crypto sandbox designed exclusively for circumventing sanctions and collecting state fees, while making sure ordinary citizens can never use a satoshi for bread.