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      Russia's Cryptocurrency Industry May Achieve Legal Status by Year-End

      Vladimir Chistyukhin, the Deputy Governor of the Central Bank of Russia, announced that the country's cryptocurrency industry could operate legally by the end of 2026, as regulatory measures are advancing as planned. Chistyukhin indicated that comprehensive secondary regulations are being developed, with the final adjustments expected to be completed by the year's end.

      In August 2026, President Vladimir Putin signed legislation establishing a regulatory framework for digital currencies and digital rights in Russia. While the use of Bitcoin for payments remains prohibited, the central bank has allowed public trading of Bitcoin on domestic cryptocurrency exchanges. Non-qualified investors can purchase Bitcoin and other digital assets worth up to 300,000 rubles (approximately $3,582) through a single intermediary, while qualified investors face no such restrictions.

      Sberbank, Russia's largest bank, is set to launch Bitcoin and cryptocurrency wallets along with digital asset custody services in December 2026. The bank anticipates that its new cryptocurrency operations could generate a trading volume of 40 trillion rubles (approximately $4.7 billion) within the first year. Despite a ban on using digital assets as a means of payment since 2022, Russian lawmakers have made exceptions for international transactions, likely as a strategy to navigate Western sanctions imposed after the Russia-Ukraine conflict.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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