Russia’s Crypto Industry Could Be Legal by Year-End, Says Central Bank

Russia's Crypto Industry — Russia’s cryptocurrency industry could be operating within a legal framework by the end of 2026, according to a central bank official.

Central Bank Deputy Governor Vladimir Chistyukhin stated that the “fine-tuning” of internal rules is progressing and could be completed before year-end, as reported by Interfax. This follows President Vladimir Putin signing a foundational law on digital currencies in August, although using crypto for payments within Russia remains banned.

The central bank has already approved Bitcoin trading for the public on local exchanges, with limits for retail investors. Major financial institutions like Sberbank are preparing to launch crypto wallets and custody services, anticipating significant trading volume.

While domestic payments with digital assets are prohibited, Russia has made exceptions for their use in international transactions, a move widely seen as a method to circumvent Western sanctions imposed after the 2022 invasion of Ukraine.