Russia plans to legalize cryptocurrency exchanges under Bank of Russia oversight by 2027, with a complete ban on unregulated transactions taking effect July 2027.
Regulation & Gov ·
Russia is preparing to legalize cryptocurrency exchanges under Bank of Russia oversight, with regulated services potentially emerging this year. The framework will require exchange operators to meet specific compliance standards to participate in the legal system. A complete ban on cryptocurrency transactions conducted outside these regulated platforms is scheduled to take effect in July 2027.
The move represents a shift from Russia's prior approach toward a supervised market structure. Exchanges seeking to operate legally must adhere to requirements set by the central bank before the July 2027 deadline. The transition will create a binary environment: only Bank of Russia-approved platforms will be permitted to facilitate cryptocurrency trading after that date.
Key details about the specific compliance requirements and timeline for legalized exchange operations remain unclear. It is not yet established how many exchanges may qualify for regulation, what the approval process will entail, or how enforcement of the unregulated transaction ban will be executed.