Cryptocurrency regulation in Russia is based on Federal Law No. 259-FZ "On Digital Financial Assets and Digital Currency," which has been in force since 2021. The law established the legal status of digital currency as property while simultaneously prohibiting its use as a means of payment for goods and services within the country. Between 2024 and 2026, the Bank of Russia, together with the Ministry of Finance of the Russian Federation, developed an updated regulatory framework for the crypto market, providing for the phased introduction of a special regime for organized trading in digital currency. The full launch of key mechanisms is expected in 2027, making the current period transitional as requirements for market participants are being clarified and official operator registries and supervisory mechanisms are being formed.
Under the new model, only Russian legal entities included in the Bank of Russia’s register and meeting requirements related to ownership transparency, financial stability, and client data protection will be allowed to operate legally with cryptocurrencies. Operators must comply with anti-money laundering and counter-terrorism financing regulations, ensure proper storage of transaction data, and submit reports to regulators and tax authorities. Anonymous transactions within the official framework are excluded: mandatory client identification procedures will be introduced, including identity verification and, where necessary, confirmation of the source of funds. As a result, the crypto market is gradually being integrated into the broader financial supervisory system.
Access to digital currency transactions is expected to be available through authorized platforms subject to specific requirements for both assets and investors. Restrictions may apply to non-qualified participants, along with enhanced oversight of high-risk instruments. At the same time, cryptocurrency in Russia is still not recognized as legal tender and continues to be treated as property, which directly affects taxation. Income earned by individuals from cryptocurrency transactions is subject to personal income tax at standard rates — 13% for tax residents (with a progressive scale applicable to higher income levels) and 30% for non-residents. Companies are subject to corporate profit tax under general rules. The obligation to declare income lies with the taxpayer, and transactions remain subject to oversight under applicable legislation.
The use of cryptocurrency as a means of payment within Russia is prohibited, except under certain special regimes and experimental mechanisms primarily related to foreign economic activity. Illegal activities, including operating without registration, violating client identification requirements, or evading taxes, may result in administrative and, in some cases, criminal liability. Overall, by 2026–2027, cryptocurrency regulation in Russia is evolving toward a controlled and licensed market model characterized by mandatory transparency of transactions, state supervision, and tax reporting, aimed at legalizing the industry while reducing legal risks for market participants.
