Russia's Crypto Law Is in Force: What Has Changed for Individuals

The core provisions of Law 282-FZ have applied since 1 September 2026. We break down what is already in force, why the RUB 300,000 limit and the qualified-investor split only start on 1 July 2027, and what crypto owners should do now.

In brief: Since 1 September 2026, cryptocurrency in Russia has definitively acquired the status of property, but not of a means of payment: holding and selling it is legal, paying with it inside the country is not. This is Federal Law No. 282-FZ of 4 August 2026 "On Digital Currencies and Digital Rights" (Law 282-FZ). For the ordinary holder, little has changed so far: only the first block of provisions has taken effect, while the key restrictions — the obligation to trade through intermediaries from the registers of the Bank of Russia (the central bank), and the division of investors into qualified and non-qualified with a RUB 300,000 limit — will apply from 1 July 2027. Until then the market operates in a transition mode, and the Bank of Russia is completing the regulatory framework.

What exactly took effect on 1 September 2026

Law 282-FZ is a voluminous document of roughly 290 pages. The State Duma adopted it on 21 July 2026 in the second and third readings at once, and it was signed in early August. The bulk of its provisions took effect on 1 September 2026; certain articles only from 1 September 2027.

In force since 1 September:

the legal definition of digital currency and its status as property;
a ban on using cryptocurrency for payments inside the country;
permission to settle foreign trade contracts in digital currency — for legal entities and sole proprietors;
the conceptual framework and the status of intermediaries: trading organizers, crypto exchangers, digital depositories, brokers, trust managers — as well as the procedure for maintaining the Bank of Russia registers;
a transition period for market participants — until 1 July 2027.

What did not happen on 1 September. Contrary to the widespread retelling, the division of investors into qualified and non-qualified, the related asset restrictions and the annual purchase limit have not taken effect: according to lawyers at GMT Legal, "these provisions will take effect from 1 July 2027" (quoted by Garant; translated from Russian). Nor has the anti-fraud mechanism taken effect — it is scheduled for 1 September 2027.

Back in late July, the Bank of Russia published the first draft regulations for the market launch — in particular, a draft ordinance on the procedure for maintaining the register of organizations exchanging digital currencies, the register of digital depositories and the register of information system operators (as reported by Rossiyskaya Gazeta, 27 July 2026). The law itself sets the criterion of systematic exchange under which activity falls within regulation: from two transactions per month totaling more than RUB 3.5 million.

The RUB 300,000 limit: status — draft, start date — 1 July 2027

The annual retail limit is most often presented as an already effective rule. It is not, and the difference is fundamental.

The Bank of Russia described the design on 21 July 2026: non-qualified investors will be able to buy only cryptocurrencies from an approved list and only after testing, with a cap of RUB 300,000 per year through a single intermediary. The specific parameters are contained in the draft Bank of Russia ordinance of 11 August 2026 — comments were accepted until 24 August, and as of 14 September 2026 the final version has not been approved. The limit will apply no earlier than 1 July 2027.

How it will look after 1 July 2027 (under the draft Bank of Russia ordinance):

Parameter	Non-qualified investor	Qualified investor
Purchase limit	RUB 300,000 per year through a single intermediary	No cap on amount
Testing	Mandatory	Mandatory
Available assets	Only cryptocurrencies from the Bank of Russia list; in the draft ordinance these are Bitcoin, Ethereum and Tether USDT	Broader than the retail list
How to buy	Only through an intermediary from the Bank of Russia registers	Only through an intermediary from the Bank of Russia registers
Effective from	1 July 2027	1 July 2027

An important nuance that gets lost in retellings: the limit is tied to a single intermediary, not to the investor as a whole. The final threshold depends on the number of platforms a person uses — and this is exactly what market participants call the weak spot of the design. Since the ordinance has not been approved, the wording may still change.

The qualified-investor criteria for the crypto market are tied to the general requirements: according to SberCIB analysts, this means assets of roughly RUB 24 million or more, or relevant education and experience.

Which cryptocurrencies will be allowed for non-qualified investors

The list is approved by the Bank of Russia. The draft Bank of Russia ordinance names three assets: Bitcoin, Ethereum and Tether USDT. As of 14 September 2026 the document has not been approved, so the composition of the list may still change — either expanding or shrinking.

The selection criteria analyzed by SberCIB:

average market capitalization over two years — above RUB 5 trillion;
average daily trading volume — above RUB 1 trillion;
listing on a licensed exchange — at least 5 years.

Note the discrepancy: by this logic, stablecoins should not make it onto the retail list, yet USDT is in the draft trio. This is one more argument that it is too early to talk about a final list before the ordinance is approved.

For qualified investors the list of available assets is broader; according to Frank Media's analysis, anonymous coins such as Monero and Zcash are excluded from it.

Transition period calendar

Date	What happens
1 September 2026	Law 282-FZ in force: conceptual framework, property status, ban on domestic payments, status of intermediaries, Bank of Russia registers. Transition period begins, running until 1 July 2027
1 July 2027	Ban on organizing the circulation of digital currency without special status; banks block transfers to unlicensed exchangers; residents transact only through licensed intermediaries; the division into qualified and non-qualified investors and the related limit take effect
1 September 2027	Anti-fraud block: a 48-hour "cooling-off period" for transfers from a depository above RUB 100,000 to an external address or above RUB 300,000 to a third party, recipient checks, cooperation with the FSB

An exception to the "only through an intermediary" rule is provided for foreign trade settlements by legal entities and sole proprietors. Miners, contrary to a common simplification, sell mined cryptocurrency abroad through regulated intermediaries — that is the Bank of Russia's wording of 21 July 2026, not "directly to non-residents."

Taxes: what a crypto owner pays

The tax part of the regulation was introduced before the main law and did not change on 1 September. The key parameters:

Resident individuals — personal income tax (NDFL) on income from selling cryptocurrency at 13% (up to RUB 2.4 million of tax base per year) and 15% (above that amount), according to SberCIB's analysis. Some sources cite a wider range of the progressive scale — rely on the Federal Tax Service (FNS) guidance for the specific situation.
Legal entities — 25% profit tax.
VAT is not charged on cryptocurrency transactions.
Tax is paid on income, not on the fact of ownership: until the asset is sold or exchanged, there is no tax base.
Losses are taken into account when calculating the base.
The 3-NDFL tax return is filed by 30 April of the year following the reporting year.
Tax authorities must be notified of cryptocurrency held abroad — the Bank of Russia stresses this separately.

Tax agent functions will gradually pass to Russian intermediaries — brokers, trust managers and digital depositories. Until the infrastructure is up and running, the obligation to declare income rests with the owner.

Mining: what has changed

Mining has been legal in Russia since 2024 and is regulated under a separate framework. As of September 2026:

legal entities and sole proprietors must be in the FNS register of miners;
individuals without sole-proprietor status may mine without registration if consumption does not exceed 6,000 kWh per month;
from 15 August 2026 until 31 December 2032, mining is banned in Moscow and the Moscow Region — Government Resolution No. 936 of 25 July 2026;
previously introduced regional bans remain in force: the North Caucasus regions, the south of Irkutsk Region, Buryatia and Zabaykalsky Krai — until 15 March 2031;
sales of mined cryptocurrency abroad go through regulated intermediaries (the Bank of Russia's wording of 21 July 2026), not directly to non-residents.

What crypto owners should do now

Don't rush to restructure your portfolio. Until 1 July 2027 there is no obligation to transact through a Russian intermediary.
Gather documents on the origin of funds. These are exactly what will be needed when bringing assets into the regulated framework and when withdrawing abroad — proof of a lawful source will become a basic requirement.
Reconstruct your transaction history (dates, amounts, purchase prices). Without it, the tax base cannot be calculated correctly: personal income tax is calculated on the difference between the sale price and documented expenses.
Check whether a notification of foreign accounts and assets is required. The requirement to notify the tax authority of cryptocurrency held abroad is enshrined in the law.
Watch the Bank of Russia register. Until it lists crypto exchangers that actually operate, it is too early to talk about a "legal purchase through a Russian intermediary."

FAQ

Is cryptocurrency now legal in Russia? Yes, as property. Owning, buying, selling and inheriting it is legal. Paying with it inside the country is not.

Will I be fined for holding crypto on a foreign exchange? Holding in itself is not a violation. The risks relate to undeclared income and failure to meet the requirements to notify the tax authorities.

Is the RUB 300,000 limit already in effect? No. The division of investors into qualified and non-qualified and the related restrictions take effect on 1 July 2027. The limit's parameters themselves are contained in the draft Bank of Russia ordinance of 11 August 2026, which as of 14 September 2026 has not been approved.

Does the "cooling-off period" on withdrawals already apply to me? No, the anti-fraud provisions are scheduled for 1 September 2027: the 48-hour delay applies to transfers from a depository above RUB 100,000 to an external address or above RUB 300,000 to a third party.

What will happen to P2P exchange? There are no direct provisions banning P2P outright, but from 1 July 2027 residents' transactions must go through licensed infrastructure. Enforcement against "gray" channels will take shape in 2027.