Russian draft laws introduce licensing and limits on digital assets

The Russian government has approved a package of draft laws aimed at regulating digital currencies and digital rights, forming part of a broader effort to formalise and ‘de-shadow’ sections of the economy.

The legislation establishes a structured framework for crypto operations, including rules on trading, intermediaries, and market access.

Under the proposed system, transactions with digital currencies must be conducted through regulated intermediaries, while residents are permitted to buy crypto abroad and transfer funds under defined conditions.

Authorities also require taxpayers to report foreign crypto-related operations to the Federal Tax Service.

Access to digital assets will vary by investor type, with non-qualified investors limited to lower-risk assets and annual caps of up to 300,000 roubles per intermediary, subject to testing requirements. Qualified investors will face no such limits.

The framework also introduces licensing requirements for exchanges, custodians, and other market participants.

The reforms further expand the regulation of digital financial assets and rights, allowing issuance and circulation in public blockchain networks. Administrative penalties will apply for violations, reinforcing compliance standards across the emerging digital asset sector.

The move signals a broader effort to bring Russia’s large and highly active digital asset market into a formal regulatory perimeter, potentially increasing state oversight, investor protection, and fiscal transparency in a strategically important sector.

At the same time, it reflects the ongoing challenge of balancing effective market regulation with the risk of overregulation that could limit innovation, reduce market participation, or push activity into less regulated channels.

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