Russia's Changing Crypto Rules: A New Path for Investors

Russia's central bank is making a big change. They want to let regular people trade certain cryptocurrencies. But there are rules. First, people need to pass a test to show they understand the risks. Then, they can only spend up to 300, 000 rubles a year on crypto. That's about $3, 800. And all trades must go through one approved middleman. For those who know more about investing, the rules are different. They can buy as much crypto as they want, except for anonymous tokens. But they still need to pass a test.The central bank sent these new rules to the government. They hope to have everything ready by July 1 next year. This is a big change. Before, the bank wanted to ban all crypto. They said it was too risky. But now, they seem to be softening their stance. If these rules become law, all crypto trades in Russia will go through licensed financial companies. This includes exchanges and brokers. People can also buy crypto from abroad and bring it into Russia. But they must follow tax rules. This change is part of a bigger trend. In 2024, the central bank already made it easier for businesses to use crypto. Now, they want to bring all this activity under their control. This is important because sanctions have made it hard for Russia to use traditional banking.