Russia’s parliament passes crypto market law with $3,800 annual cap for retail investors
While citizens still cannot use Bitcoin to buy groceries, the Kremlin is officially letting companies use digital tokens to bypass sanctions and other global trade hurdles.
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Summary
- Russia’s State Duma has approved the country’s first comprehensive cryptocurrency law, creating a legal framework for exchanges, depositories and other digital asset providers starting Sept. 1.
- The law restricts crypto trading to entities in a special registry, caps annual purchases by retail investors at about $3,800 per licensed intermediary, and grants judicial protection to holders of digital currencies.
- While maintaining a ban on using crypto for domestic payments, the legislation regulates mining and allows limited use of digital currencies in foreign trade settlements and certain transactions, amid heightened EU sanctions targeting Russia’s crypto activities.
