Russia | The Law “On Digital Currencies and Digital Rights”

Effective September 1, 2026, the new Federal Law No. 282-FZ of August 4, 2026, “On Digital Currencies and Digital Rights,” is in effect.

The main feature of this regulatory act is that it grants digital currency the status of an object of civil rights with a dual legal nature:

• First, digital currency is classified as property, which allows the general provisions of the Civil Code of the Russian Federation regarding property rights to be applied to it.
• Second, it is recognized as a monetary asset, which means that transactions involving it are subject to foreign exchange controls by authorized banks.

This structure provides asset owners with a comprehensive mechanism for legal protection. Assets may be legally transferred in civil transactions through gifts or exchanges, included in an estate, or used as security for obligations (collateral).

However, the ban on using digital currencies as a means of payment for goods, work, and services within the country remains in effect.

Types of cryptocurrency market participants

The following participants in the cryptocurrency market are identified:

A digital currency trading operator—this category includes operators of cryptocurrency exchanges and exchange platforms. Their activities consist of facilitating buy and sell transactions between users. To gain market access, a legal entity must undergo the procedure for inclusion in the Bank of Russia’s registry. The operator is responsible for implementing customer identification (KYC) and anti-money laundering (AML) procedures, as well as ensuring the complete segregation of client assets from the operator’s own funds.

A digital depository is a specialized organization that records rights to digital currencies by maintaining digital account records. The depository’s functions include storing information about identifier addresses, conducting regular balance reconciliations, and preventing transactions from being carried out without the owner’s voluntary consent. The depository bears full financial liability to depositors for the security of the data.

Miners and mining infrastructure operators — entities engaged in the creation (mining) of digital currency—have been brought out of the gray area for the first time. Legal entities and sole proprietors are required to be listed in the registry maintained by the Russian Ministry of Digital Development. Energy consumption limits have been established for individuals engaged in mining without registering a business. Income from mining is subject to taxation as income from the sale of property.

Information System Operator (issuer of digital financial assets). Entities that issue utility digital rights and digital financial assets. These entities are subject to stricter requirements regarding risk disclosure, internal auditing, and conflict-of-interest management.

Regulation of investment activities

Regulation of investment activity is aimed at minimizing systemic risks and protecting retail investors from capital losses resulting from high asset volatility.

Instead of a notification-based system, the new Law provides for the creation of a closed, licensed infrastructure under the supervision of the Bank of Russia. Articles 52–54 of the Law grant the regulator exclusive authority to maintain registries and issue permits to professional participants.

The main barrier to market entry is the mandatory testing of individuals, as provided for in Article 32 of the Law. In addition, access to trading on the platforms of market operators is granted only after successfully passing a qualification test. There is also a limit for unqualified investors: no more than 300,000 rubles per year through a single licensed intermediary (an exchange, broker, or exchange office listed in the Bank of Russia’s registry).

For qualified investors, there will be no restrictions on the volume of transactions.

Organized trading—that is, the systematic buying and selling of cryptocurrencies—will be defined as the execution of two or more transactions within a month with a total value exceeding 3.5 million rubles.

Transition period and taxation

Federal Law No. 282-FZ consists primarily of provisions that refer to other regulations. Detailed technical requirements for market participants, reporting formats, cybersecurity standards for data centers, and algorithms for smart contracts will be established by subordinate regulations issued by the Bank of Russia.

The law provides for a transition period until July 2027, after which cryptocurrency transactions may only be conducted through regulated organizations and banks. By that date, market participants must bring their operations into full compliance with the new requirements and obtain licenses.

Recognition of an asset as property triggers the application of income tax rules. Amendments to the Tax Code will stipulate that the tax base is calculated as the difference between the proceeds from the sale of the asset and the documented expenses incurred for its acquisition or extraction. Platform operators will act as tax agents or submit information to the Federal Tax Service for automated monitoring.

Document: http://publication.pravo.gov.ru/document/0001202608040007