- The Russian government allows only wealthy individuals to use crypto in cross-border payments.
- Retailers in Russia had to face fines for trading crypto and could be fined if found guilty.
- A 2025 Q1 report found that Russians invested in over 2 trillion rubles, worth $25.4B.
Russia, which has been an important member in the cryptocurrency ecosystem, has proposed providing crypto trading to retailers. Talks are underway and if approved, the retail investors could soon access crypto assets if existing laws are eased. Speaking to reporters after the Eastern Economic Forum (EEF), Alexey Yakovlev, the Director of the Financial Policy Department at the Russian Ministry of Finance, hinted that discussions are ongoing to enable more investors to access and trade crypto assets in the near term.
Russian Crypto Laws to Be Eased for Retail Traders’ Sake?
Earlier this year, Russia’s Central Bank proposed regulating crypto investments for wealthy traders and proposed under an experimental legal regime, that certain investors and companies would participate in a three-year crypto-investment program.
The bank only allowed wealthy individuals with an income of more than 50 million rubles per year, which is approximately $600k, and must invest at least 100 million rubles, which is equal to $1.2 million. An earlier report by TASS stated that crypto assets held by Russian investors exceeded 2 trillion rubles, which is equivalent to $25.4 billion by the end of the first quarter of 2025.
How Will Russia’s Ordinary Investors Access Crypto Legally?
During the EEF meeting in the far eastern city of Vladivostok, Yakovlev stated that the government has been actively discussing how to reduce the figures to encompass more investors legally. “We are discussing exactly these figures. We believe these criteria can be adjusted downwards. It’s being discussed now,” Yakovlev noted.
Earlier this year, Russia’s Finance Ministry Anton Siluanov stated that the country is exploring ways to launch a cryptocurrency exchange for its highly qualified investors. If the government lowers the requirement for investors to tap into crypto assets, the planned digital asset exchange will play a huge role in the mainstream adoption of cryptocurrencies globally.
Why is the Kremlin Focused on Regulating the Crypto Market?
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The Russian government has gradually followed other key members of the BRICS movement to adopt crypto assets. The BRICS movement members have been adopting blockchain technology in a bid to enhance their de-dollarization plans
For instance, China has been rolling out its digital Yuan to retail individuals and recently began eying global markets. In July 2024, Russia’s lawmakers approved a new law to permit the use of crypto assets for international payments, geared towards streamlining its cross-border operations following the financial pressures from Western countries.
The Russian government is keen to adopt crypto assets to boost its economy, with more than 1.7 million people unemployed in the country, while countries led by the United States have been using the Web3 industry to improve their financial systems and create new jobs.
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Source: https://coinedition.com/russia-proposes-easing-of-crypto-rules-to-boost-adoption-among-retail-investors/
