New rules for cryptocurrency circulation have come into force in Russia

In Russia today, the law "On Digital Currency and Digital Rights" came into force, defining the rules for cryptocurrency circulation in the country. Now crypto operations can only be conducted through licensed intermediaries from the Bank of Russia registry. Platforms enabling P2P transactions must obtain the corresponding status by July 1, 2027.

Both non-qualified and qualified investors will be required to pass special testing before trading.

Non-qualified investors, meaning ordinary individuals, will be able to buy cryptocurrency worth no more than 300,000 rubles (about $3,500) per year through a single intermediary. This limit applies separately to each intermediary. In addition, they will only be able to buy Bitcoin, Ethereum, USDT and USDC. For qualified investors there are no such restrictions.

For transfers worth more than 100,000 rubles to non-custodial (Web3) wallets from a Russian depository, or for transfers to third parties exceeding 300,000 rubles, a 48-hour "cooling-off period" is introduced. During this time the client will be able to cancel the transaction.

Cryptocurrency in Russia is now recognized as property, however it still cannot be used to pay for goods and services, and advertising payment in crypto is prohibited.

Earlier it became known that Russian-speaking poker players encountered card blocks when trying to withdraw funds through the P2P services of the poker rooms PokerOK, RedStar, and Pokerdom.

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