Russia’s Crypto Regulation Gamble: A June Vote Saga

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Imagine a nation trying to herd a particularly sassy cryptocurrency with a clipboard. That, in a sentence, is Russia’s plan for a late June vote on a sweeping crypto regulation bill. The document promises to whip exchanges into line, limit what investors can panic-buy, install licensing like a passport control, and decide what to do with stablecoins when the mood strikes.

Aksakov, head of the State Duma’s Financial Market Committee, keeps talking about the timeline as if it were a train schedule and the train is, frankly, late but punctual about the excuses. The Parliamentary Gazette of Russia notes the vote could be the first unified crypto law, a phrase that sounds grand enough to require a top hat and a gavel.

Anatoly Aksakov, chair of the Russian State Duma’s Financial Market Committee, said a crypto regulation bill is expected to be voted on by late June and, if approved, would take effect on July 1, 2027. The bill would regulate exchanges, require retail investors to pass…

– Wu Blockchain

As things stand, crypto exchanges hover in a legal no-man’s-land that even a mapmaker would refuse to claim. The coming bill would demand registration and licensing. Operate unregistered, and you risk fines or jail-penalties designed to feel stern but fair, much like a librarian catching you returning a paperback with the cover slightly creased.

Stablecoins could get special treatment, perhaps used for foreign business, with Licensed Brokers handling such transactions. In other words, USDT might pretend to be a digital dollar while everyone pretends the volatility isn’t real and the sanctions aren’t looming. Qualified investors would enjoy broader access, but still face mandatory risk tests. They could buy a wide array of assets-so long as they steer clear of anonymous coins like XMR, ZEC, and DASH for AML reasons.

The Central Bank is blunt about risk: crypto is volatile, there are no guarantees when sovereignty is involved, and the possibility of total loss lurks like the house taxman at a Christmas party. The plan would keep current infrastructure in place-licensed exchanges, brokers, and trustees, with separate rules looming for specialized depositories and exchangers that will need fresh licenses.

Residents could still buy crypto overseas through foreign accounts or via Russian intermediaries, but they’ll have to tell the tax authorities. Fail to do so, and you’ll face consequences that do not involve a stern talking-to.

Mining isn’t forgotten either. Lawmakers want to legalize it with rules for creation, mining, and circulation; illegal operations would carry administrative or criminal liability. Investment limits might shift, but that’s still up for debate, like whether the coffee machine should be kept on or off during the legislative session.

And there’s a court twist: on January 20, 2026, Russia’s Constitutional Court largely protected undeclared digital assets, removing a significant obstacle for thousands of holders. A plot twist worthy of a satirical novel, if you’re into bureaucratic drama with a splash of oil and gossip.

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2026-01-29 08:08