Russian President Vladimir Putin has signed a law creating a regulated framework for cryptocurrency markets in Russia.

Putin signed bill No. 1194918-8, titled “On Digital Currencies and Digital Rights,” into law on Tuesday, according to official records from the State Duma, Russia’s lower house of parliament. The legislation establishes rules for crypto market participants, including exchanges, brokers, custodians and other crypto service providers.

The law requires crypto exchange operators to meet regulatory requirements and join a financial market self-regulatory organization. It limits retail investors to buying approved crypto assets through intermediaries, with an annual cap of 300,000 rubles ($3,700) per intermediary. Qualified investors will be allowed to purchase any cryptocurrency without such restrictions.

The core provisions of the law take effect on Sept. 1, 2026, while some measures, including rules for non-resident digital depositories, will take effect on July 1, 2027. The law also maintains a ban on using crypto assets to pay for goods and services inside Russia.

The State Duma approved the legislation after final readings in late July. Under the law, the Bank of Russia will oversee the regulated crypto market, issue related rules and determine which crypto assets licensed intermediaries can offer.

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