digital assets

Russian Central Bank outlines new rules for crypto investors

The Central Bank of Russia has introduced a detailed proposal aimed at bringing cryptocurrencies under a unified regulatory framework, marking a significant step towards formal legal recognition of digital assets.

Under the proposal, both qualified and non-qualified investors would be permitted to purchase cryptocurrencies. Investor status would be determined by factors such as education, professional background, income level, and asset holdings.

Non-qualified investors would be restricted to buying up to 300,000 roubles worth of crypto per year through authorised intermediaries.

Digital currencies and stablecoins would be classified as currency values under Russian law, yet their use as a means of payment for goods and services would remain prohibited. The framework maintains the state’s long-standing opposition to domestic crypto payments.

Russian residents would also gain the right to purchase and transfer crypto assets abroad, provided such transactions are reported to the Federal Tax Service. The central bank aims to finalise the legislative groundwork by 1 July 2026.

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UK sets course for comprehensive crypto regulation

The UK government has announced plans to bring cryptoassets firmly within the regulatory perimeter, aiming to support innovation while strengthening consumer protection and attracting long-term investment into the sector.

From 2027, cryptoasset firms will be regulated by the Financial Conduct Authority under rules similar to those governing traditional financial products, such as stocks and shares. The move is intended to provide legal clarity and increase confidence among consumers and businesses.

Ministers say that proportionate regulation will support innovation, ensure competitive markets, and strengthen the UK’s position as a global hub for digital assets. Enhanced oversight will boost transparency, aid sanctions enforcement, and help detect and tackle illicit activity.

The initiative forms part of a broader strategy to shape global crypto standards, including ongoing cooperation with the United States through the Transatlantic Taskforce, as the UK seeks to secure its role in the future of digital finance.

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Russia rejects crypto as money but expands legal recognition

Russian lawmakers have reiterated that cryptocurrencies will not be recognised as money, maintaining a strict ban on their use for domestic payments while allowing limited application as investment assets.

Anatoly Aksakov, head of the State Duma Committee on the Financial Market, emphasised that all payments within Russia must be conducted in rubles, echoing the central bank’s long-standing stance against the use of cryptocurrencies in internal settlements.

At the same time, legislative proposals point to a more nuanced legal approach. A bill submitted by United Russia lawmaker Igor Antropenko seeks to recognise cryptocurrencies as marital property, classifying digital assets acquired during marriage as jointly owned in divorce proceedings.

The proposal reflects the growing adoption of cryptocurrency in Russia, where digital assets are increasingly used for investment and savings. It also aligns family law with broader regulatory shifts that permit the use of crypto in foreign trade under an experimental framework.

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Argentina weighs letting banks offer crypto services

Argentina may soon shift its digital-asset policy as the central bank considers rules allowing banks to offer crypto trading and custody services. The proposal marks a move towards integrating a market that has largely operated through exchanges and fintech platforms.

Industry sources say approval could arrive by April 2026 if the process stays on schedule.

Crypto usage in Argentina remains far above regional averages, driven by years of inflation and strict currency controls. Many households use digital assets as a store of value, and regulated banks could provide clearer safeguards and easier access for everyday users.

Regulators are still debating sensitive issues such as custody requirements, capital treatment and which tokens banks would be permitted to handle.

The conversation continues in the shadow of the Libra meme-coin scandal, which left thousands of Argentines with steep losses and highlighted the risks of politically amplified speculation.

Regulators are weighing custody, capital, and token rules while aiming to formalise the market without boosting volatility.

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Polish parliament upholds presidential veto on crypto bill

Poland’s Sejm has upheld President Karol Nawrocki’s veto of the cryptoassets bill, blocking plans to place the digital asset market under the Financial Supervision Authority in line with EU MiCA rules. The attempt to override the veto failed to reach the required three-fifths majority.

Prime Minister Donald Tusk condemned the decision, warning that gaps in regulation leave parts of the cryptocurrency sector exposed to influence from Russian and Belarusian actors, organised crime groups and foreign intelligence networks.

He argued that the bill would have strengthened national security by giving authorities better tools to oversee risky segments of the market.

The president’s advisers defended the veto as protection against excessive, unclear regulation and accused the government of framing the vote as a false choice involving criminal groups.

President Nawrocki later disputed the government’s claims of foreign intelligence threats, saying no such warnings were raised during earlier consultations.

Tusk vowed to submit the bill again, insisting that swift regulation is essential to safeguard Poland’s financial system. He stated that further delays pose unnecessary risks and urged the opposition and the president to reconsider their stance.

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UK moves to give crypto full legal property status

The United Kingdom has introduced a landmark legal change by formally recognising cryptocurrencies and stablecoins as personal property. The Property Act, which secured royal assent this week, establishes a clear statutory framework for digital ownership after years of fragmented court rulings.

Industry bodies hailed the development as a decisive boost for legal certainty. Groups such as Bitcoin Policy UK and CryptoUK stated that the new rules enhance protection, facilitate token recovery, and clarify uncertainty over ownership and inheritance.

Lawmakers followed guidance from the Law Commission, which urged the creation of a dedicated category for digital assets that did not fit traditional definitions of personal property.

Regulators view the shift as part of a broader effort to reinforce Britain’s ambitions as a digital finance hub.

Ministers are reviewing a possible ban on cryptocurrency donations to political parties. They are also assessing reforms to the taxation of decentralised finance, which could prevent users from triggering capital gains when using lending protocols or liquidity pools.

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Young wealthy investors push advisers towards broader crypto access

A rising number of young, high-earning Americans are moving away from wealth advisers who fail to offer crypto access, signalling a sharp generational divide in portfolio expectations.

New survey results from Zerohash show that 35 percent of affluent investors aged 18 to 40 have already redirected funds to advisers who support digital-asset allocations, often shifting between $250,000 and $1 million.

Confidence in crypto has strengthened as major financial institutions accelerate adoption. Zerohash reported that more than four-fifths of surveyed investors feel more assured in the asset class thanks to involvement from BlackRock, Fidelity and Morgan Stanley.

Wealthier respondents proved the least patient. Half of those earning above $500,000 said they had already replaced advisers who lack crypto exposure, and 84 percent plan to expand their holdings over the coming year.

Demand now extends well beyond Bitcoin and Ethereum. Ninety-two percent want access to a wider range of digital assets, mirroring expanding interest in altcoin-based ETFs and staking products.

Asset managers are responding quickly, with 21Shares launching its Solana ETF in the US and BlackRock preparing a staked Ether product. The Solana category alone has attracted more than $420 million in inflows, underscoring the rising appetite for institutional-grade exposure.

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Czech central bank invests in digital assets for the first time

The Czech National Bank (CNB) has acquired digital assets for the first time, creating a USD 1 million test portfolio outside its international reserves. The initiative includes Bitcoin, a USD stablecoin, and a tokenised deposit on the blockchain.

The portfolio aims to provide practical experience with digital assets and test related operational processes, without plans for further active investment.

Governor Aleš Michl explained that the idea originated in January 2025 to evaluate decentralised Bitcoin and explore its potential role in diversifying reserves. Discussions later included stablecoins, tokenised deposits, and future payment methods, with insights to be shared over the next two to three years.

The CNB emphasises that the koruna remains the country’s legal tender, while new digital payment and investment methods are increasingly emerging.

The test portfolio will examine the full chain of digital asset management, from technical administration and multi-level approvals to crisis scenarios, security measures, and AML compliance.

The CNB aims to maintain and develop internal expertise, ensuring staff gain practical knowledge transferable across teams. The investment is separated from the central bank’s international reserves and will not influence monetary policy or foreign exchange operations.

Alongside the portfolio, the CNB has launched CNB Lab, an innovation hub to test digital assets, blockchain solutions, AI tools, and payment innovations. The Lab will help the bank prepare for the future of finance while building practical experience and team expertise.

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France moves to tax crypto as ‘unproductive wealth’

French lawmakers approved a proposal to expand the wealth tax to cover ‘unproductive assets’ like luxury goods, property, and digital currencies. The amendment by centrist MP Jean-Paul Matteï narrowly passed the National Assembly, 163 to 150, with support from socialist and far-right members.

The proposal will now move to the Senate for further debate as part of the 2026 national budget process.

Under the plan, individuals holding ‘unproductive wealth’ valued above €2 million would face a new 1% flat tax. The measure replaces the existing progressive real estate wealth tax, which currently charges up to 1.5% on assets exceeding €10 million.

Matteï argued that the change would promote ‘productive investment’ and address inconsistencies in the current system, which excludes assets like gold, classic cars, and cryptocurrencies.

The inclusion of digital assets has drawn criticism from the local crypto community. Éric Larchevêque, co-founder of crypto wallet maker Ledger, warned that the move sends a negative message, portraying crypto as economically ‘unproductive.’

He cautioned that investors could be forced to liquidate their holdings to pay the tax, and expressed concern that the threshold might later be reduced.

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Norway sees surge in cryptocurrency tax declarations

Norway’s efforts to improve cryptocurrency tax compliance have led to a significant increase in declarations. More than 73,000 residents reported owning digital assets in their 2024 filings, a 30% rise compared with 2023, according to the Norwegian Tax Administration.

Officials attribute the growth to enforcement measures, educational campaigns, and improved digital reporting systems.

The total reported value of these holdings exceeded US$4 billion, with gains of around US$550 million and losses near US$290 million. Tax director Nina Schanke Funnemark said higher participation reflects the success of recent initiatives and increased taxpayer awareness.

From January 2026, Norwegian crypto service providers, including exchanges and custodians, must share client transaction data under a new third-party reporting regime. The measure aims to close oversight gaps and ensure transparency across the sector.

The 2024 declaration figures contrast sharply with 2019, when only 6,470 individuals reported crypto ownership.

Norway’s sovereign wealth fund holds indirect crypto exposure through investments in companies such as Coinbase, Metaplanet, and Strategy, representing roughly 7,161 Bitcoin. Other countries are boosting crypto oversight, with the UK’s HMRC sending around 65,000 warning letters to suspected non-compliers.

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