Russia's New Crypto Rules: What You Need to Know

Russia is making a big change in how it handles cryptocurrencies. The central bank now wants to let regular people buy some crypto, but with strict rules. They can only buy up to 300, 000 rubles worth of crypto each year. And they have to pass a test to show they understand the risks. This is a big deal because Russia has been very careful about crypto in the past. Professional investors get more freedom. They can buy as much crypto as they want, but they also have to pass a test. However, they can't use anonymous cryptocurrencies. These are cryptos that hide who is making the transactions. The central bank is clear about the risks. They say crypto is volatile and not backed by any government. This means people could lose money. But they also say that crypto is a valid way to invest.Russia is not allowing crypto to be used for everyday purchases. This is to keep the ruble strong. But they are okay with using crypto for big things like oil trades. This is part of Russia's plan to work around Western sanctions. The new rules are expected to be final by July 2026. Starting in 2027, there will be penalties for breaking these rules. People will be able to buy crypto through licensed platforms. And if they buy crypto abroad, they have to tell the tax authorities. This change shows that Russia is trying to balance new technology with being careful. They want to let people use crypto but also protect them from risks. It will be interesting to see how this plays out.