Russia to Legalize Major Cryptocurrencies with Strict Market Entry Rules
Russia is poised to legalize cryptocurrency trading this year, but with stringent requirements that will likely limit participation to only the largest digital assets like Bitcoin (BTC) and Ethereum (ETH). The Central Bank of Russia (CBR) will enforce criteria including a minimum average market capitalization of 5 trillion rubles (~$60B) and daily trading volume exceeding 1 trillion rubles (~$12B) over a two-year period.
The legislation, titled 'On Digital Currency and Digital Rights,' aims to create a controlled environment for crypto transactions. Approved assets will be selected from globally recognized platforms with verifiable trading histories, effectively sidelining smaller or newer tokens.
This move signals Russia's cautious embrace of digital assets while maintaining tight oversight—a balancing act between innovation and financial regulation that could set precedents for other sovereign markets.