Russia Moves to Restrict Crypto Trading Through Licensed Intermediaries

Russia’s government has approved a package of draft bills aimed at channeling domestic crypto trading through licensed intermediaries while tightening state oversight. The Finance Ministry confirmed that transactions involving digital currencies without regulated intermediaries would be prohibited under the new framework.

Retail investors would face strict limits, allowing purchases only of the “most liquid digital currencies,” as defined by the Bank of Russia. Individuals must pass a test and would be capped at buying up to 300,000 rubles, or about $3,700, annually through a single intermediary. However, residents would still be permitted to purchase crypto abroad using foreign accounts, provided such transactions are reported to tax authorities.

Licensing Rules and Industry Concerns

The framework introduces licensing requirements for crypto exchanges and custodial services, while banks and brokers may participate if they meet prudential standards. Critics, including Exved founder Sergey Mendeleev and BestChange analyst Nikita Zubarev, warned the rules could push traders into grey markets, increase risks for decentralized finance users, and create uncertainty for global platforms such as Binance and Bybit.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.