Russia Strengthens Its Crypto Regulation With New Rules

The Bank of Russia has recently introduced new regulations aimed at strengthening the oversight of foreign exchange operations involving digital rights. These rights, defined by Russian law, include electronic records such as cryptocurrencies, tokenized securities, and digital tokens. This initiative aims to integrate digital assets into the traditional financial system while ensuring financial stability.

The new crypto rules in Russia

Since January 11, 2025, contracts for foreign trade involving digital rights must be registered with authorized banks. This requirement applies to import contracts exceeding 3 million rubles and export contracts exceeding 10 million rubles. The objective is to find a balance between regulatory oversight and operational efficiency for businesses using digital rights in international trade involving crypto.

In addition to registration, the Bank of Russia has specified the documents and information that residents must provide to banks. These documents include data on crypto transfer transactions or receipt of digital rights as a means of payment under foreign trade contracts, as well as information on other foreign exchange operations related to digital rights.

One step closer to the global adoption of cryptocurrencies

This new regulation reflects the growing importance of crypto in the global economy and emphasizes the need to establish a robust framework that promotes innovation, enhances transparency, and ensures financial stability. By integrating digital rights into the broader financial system, Russia seeks to mitigate the risks associated with their use while leveraging their potential.

This measure could, on one hand, encourage wider adoption of cryptos by offering greater regulatory clarity. On the other hand, it may also impose additional constraints on businesses and investors, requiring adaptation to new requirements.

The decision by the Bank of Russia to tighten rules on digital assets marks an important step in the evolution of the digital financial landscape in Russia. Crypto market participants will need to closely monitor these developments to effectively navigate this new regulatory environment.