Future of the Crypto Industry in Russia: Bans or Regulation?

Digital Currency Bill: New Rules of the Game for the Russian Crypto Market

The bill "On Digital Currency and Digital Rights" has been officially submitted to the State Duma's electronic database, sparking a wave of concern among market participants. The document, which was supposed to bring clarity to the legal field, has actually become a cause for serious alarm. Industry representatives believe that the current version could not just limit, but effectively paralyze the work of private investors and companies in the Russian Federation.

Critical View: Why Experts Are Sounding the Alarm

The text of the bill was leaked online on March 27, 2026, and the reaction was immediate. Sergey Mendeleev, CEO of Exved, who participated in consultations with the authorities, noted that the opinion of the expert community was completely ignored. Instead of creating a flexible environment, lawmakers proposed a rigid centralized model.

Key Risks and Controversial Points

The crypto community's main grievances boil down to three fundamental points outlined in the document:

1. Storage in State Depositories. Instead of the usual decentralized wallets, users are being forced to store assets in state-controlled structures. This kills the very essence of cryptocurrencies — autonomy and the absence of intermediaries.

2. Strict Limits for Individuals. For unqualified investors, a threshold of 300,000 rubles per year has been set. Such a restriction effectively pushes active traders into the "gray" zone.

3. Monopolization of Foreign Economic Activity (FEA). The mandatory inclusion of state organizations in the chain of foreign economic activity will inevitably lead to an increase in costs by several percent and make settlements slower.

Sanctions and Blocks: What Should Regular Users Expect?

The crypto community's main fear is complete isolation from global platforms. Using foreign trading platforms could become a reason for internal sanctions or bank account blocks. Market participants fear that legal work will become economically unviable due to high state platform fees and complex reporting.

Timeline: When Will the Law Take Effect?

Currently, the bill is in the first stage of consideration. However, opponents of the initiative have little optimism: Anatoly Aksakov, head of the Financial Market Committee, confirmed that the authorities intend to pass the law during the spring session. This means the market has only a few months left to adapt to the new reality.

Despite the pessimistic forecasts, some experts believe the final version may receive amendments to soften the harshest edges. Nevertheless, the trend toward total control over digital assets in 2026 remains unchanged. Users should already be looking for alternative ways to work legally and keeping an eye on regulatory updates.