Russian President Vladimir Putin has signed a law that introduces comprehensive regulation of digital currencies and digital rights in Russia. The legislation, reported by China News Service and published on Russia's legal information portal, sets operating rules for crypto exchange platforms, digital asset custodians, and other market participants, while defining conditions for investor purchases of digital currencies. The law covers circulation, accounting, and storage of digital currencies and foreign digital instruments, as well as mining activities and the issuance and circulation of digital rights. Russian citizens will be legally permitted to invest in cryptocurrencies through domestic exchanges and to use services from brokers, trust managers, asset management companies, and crypto exchange institutions. Registration and custody of digital currencies will be handled by digital custodians approved by Russia's central bank, and market participants must meet strict information security requirements. The central bank will also establish a registry of crypto exchange institutions, with credit institutions and brokers managed under a filing system. The law takes effect September 1, though some provisions will be implemented on July 1, 2027 or September 1, 2027.
Russian President Vladimir Putin on August 4 signed a law that introduces sweeping regulation of digital currencies and digital rights in the country. The document has been published on Russia's official legal information portal, according to a China News Service report cited by PANews.
The law sets operating rules for cryptocurrency exchange platforms, digital asset custodians, and other market participants. It also specifies the conditions under which investors can buy cryptocurrencies.
Scope: Circulation, Accounting, Storage, and Mining
Relations involving the circulation, accounting, and storage of digital currencies and foreign digital instruments, along with mining activities and the issuance and circulation of digital rights, fall under the law. It also imposes regulatory oversight on information system operators that issue digital financial assets, crypto exchange institutions, digital asset custodians, brokers, asset management companies, trading organizers, and clearing institutions.
Legal Route for Citizens, Central Bank Oversight
Under the law, Russian citizens can legally invest in cryptocurrencies through exchanges registered in Russia. When trading or carrying out related operations, they may use services provided by brokers, trust managers, asset management companies, and crypto exchange institutions.
Registration and custody of cryptocurrencies will be handled by digital custodians approved by the Bank of Russia. Market participants must follow strict information security requirements. The central bank will also maintain a registry of crypto exchange institutions, with credit institutions and brokers brought under a filing-based system.
The law takes effect on September 1. Some provisions will enter into force on July 1, 2027 or September 1, 2027.
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