Russian crypto exchanges may receive legal regulation - State Duma committee first deputy chairman
MOSCOW. Jan 14 (Interfax) - Rules for the legal operation of Russian crypto exchanges need to be developed amid the use of foreign infrastructure in fraudulent schemes, the first deputy chairman of the State Duma Committee on Informational Policy, Technologies and Communications Anton Gorelkin said.
On his Telegram channel, Gorelkin described cases where fraudsters use Belarusian crypto exchanges to deceive Russian citizens. In this case, the place where the crime is committed is considered to be Belarus, which significantly complicates the work of law enforcement agencies in identifying the criminals, he said.
"This in particular is why it is necessary to bring order to crypto exchanges, to create conditions for their legal activity on Russian territory," Gorelkin said.
In December 2025, the Central Bank of Russia prepared a concept for regulating cryptocurrencies on the Russian market. It is proposed that operations with digital currencies be carried out through legal infrastructure - exchanges, brokers, trust managers and exchange services, for which separate requirements will be established. Non-qualified investors will be able to buy cryptocurrency within the limit of 300,000 rubles per year through one intermediary. It is envisaged that exchange services will operate within a regulated framework, and from July 1, 2027, it is planned that liability for illegal activity of intermediaries in the cryptocurrency market will be introduced, similar to illegal banking activity. The legislative framework is expected to be prepared by July 1, 2026.
Currently, cryptocurrency (in legal terminology - "digital currency") is recognized as property in Russia, but its use as a means of payment within the country is prohibited, and the legal status of exchange infrastructure remains unregulated. As a result, a significant portion of operations is carried out through informal channels, including P2P models and services outside Russian jurisdiction.
At the same time, a legal regime introduced by decree no. 8 on the development of the digital economy has been in effect in Belarus since 2018. This legalized the circulation of cryptocurrencies, permitted the operation of crypto exchanges and exchange services, and placed such activity under a special regime through the High-Tech Park. Within this regime, operations of services registered in Belarus are considered to be performed under Belarusian jurisdiction even when serving clients from Russia.
Separately, since September 1, 2024, an experimental legal regime mechanism has been in effect in Russia which, under the control of the Central Bank of Russia, permits the use of cryptocurrency in cross-border settlements under foreign trade contracts. However, it does not constitute legalization of its circulation as a means of payment within the country.
In February 2022, the Russian government approved a concept for legalizing the circulation of cryptocurrencies, which proposed a two-tier model of regulation: creating domestic crypto exchanges in Russia and legalizing P2P exchange services, as well as the possibility of acquiring cryptocurrency on foreign exchanges, provided funds are withdrawn into fiat currencies exclusively through Russian banks with a universal license and in compliance with anti-money laundering legislation. The concept also envisaged introducing new market participants into legislation - organizers of a digital currency exchange system, operators of digital currency exchange and foreign digital currency exchanges. However, amid external restrictions that began in 2022, a significant portion of foreign crypto platforms ceased servicing Russian clients, and the model provided for by the concept was never implemented in the form of a federal law.
