Russia Sets New Crypto Exchange Rules While Keeping Payment Ban

President Vladimir Putin signed a new law that brings official regulation to digital currencies and digital rights across the country. Under the updated rules, only registered entities are allowed to operate as crypto exchanges. The legislation also sets strict limits for everyday traders, capping retail investments in liquid cryptocurrencies at 300,000 rubles or roughly $3,700 per year. Qualified investors face no such restrictions.

Despite the new framework for trading, using digital assets as payment for everyday goods remains completely illegal inside Russia, upholding a ban that has been in place since 2022. However, the law carves out specific exceptions for foreign trade settlements and registered crypto miners. Companies can use digital currencies to handle crossborder trade contracts, which helps businesses deal with ongoing Western sanctions.

This update follows years of debate among Russian lawmakers, regulators, and the central bank. While Putin previously praised Bitcoin for its censorship resistance and noted the country holds advantages in mining due to cheap energy, the government still wants tight control over domestic spending. Traders should watch how these new exchange limits affect local liquidity and whether international trade exceptions expand in the coming months.