Russia Proposes $4,000 Cap on Retail Crypto Purchases

The Russian government is advancing a bill to regulate cryptocurrency purchases with a cap of $4,000 annually for non-qualified investors. The legislation aims to integrate digital assets into the legal system by 2027, enhancing oversight.

Anatoly Aksakov, Chairman of the State Duma’s Financial Markets Committee, leads the initiative. The proposed legislation sets a timeline for voting by June 2025, targeting enforcement in July 2027.

Russian exchanges, including Moscow Exchange and St. Petersburg Exchange, show readiness for these changes, supporting the central bank’s framework. The retail investor cap affects primarily Bitcoin and Ethereum trades.

The Central Bank of Russia will oversee that only approved cryptocurrencies are available for retail investment. Senior investors face no such limits, except for privacy coins, ensuring broader investment options.

Adoption of these regulations marks a move from informal restrictions to legalized crypto investments in Russia. Stakeholders from various sectors have mixed outlooks on the impact of these changes.

Expert opinions suggest the cap may restrain retail market growth but promote activist and secure trading environments. Historical trends in Russian finance indicate a cautious approach to crypto, integrating it within existing systems.

Anatoly Aksakov, Chairman of the State Duma’s Financial Markets Committee, “The final legislative processes are projected to conclude by the end of June 2025, leading to the enforcement of these rules starting July 2027.” – Source