Bank of Russia confirms new crypto regime
Law forms part of de-dollarisation and alternative payments push as Moscow seeks new ways to evade sanctions
The Bank of Russia on July 21 confirmed that the State Duma (lower house) had passed a long-awaited law regulating crypto assets.
The law will come into effect on September 1, with a transitional period ending on July 1 2027.
Most Russians will only be allowed to use crypto assets as investment instruments, as using them to make payments inside Russia will remain prohibited. However, “exporters and importers will be permitted to use cryptocurrencies in cross-border payments without limitations”
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