Russia Launches Licensed Crypto Trading Framework
- Federal Law No. 282-FZ took effect on September 1, allowing regulated trading of Bitcoin, Ethereum, and USDT.
- Retail investors are capped at a maximum of 300,000 rubles (~$3,700) per year through licensed platforms.
- Crypto is classified as property, with legal protections and provisions for state seizure under criminal proceedings.
- Sberbank projects regulated exchange turnover could reach around 4 trillion rubles (~$46B) in the first year.
- Full authorization for crypto platforms must be completed by July 1, with banks expected to block unregistered transfers thereafter.
The new law allows for trading and custody of digital assets under Bank of Russia supervision but prohibits domestic crypto payments for goods and services. This framework positions Russia as a significant player in the global cryptocurrency market.
With a projected turnover of approximately $46B in the first year, this initiative marks a pivotal step in establishing a regulated market for cryptocurrencies like Bitcoin and Ethereum.
