Russia Approves Cryptocurrency Legislation, Bitcoin, Ethereum, and Solana Permitted for Listing

The Russian government’s Legislative Activity Committee has approved the “Bill on Digital Currencies and Digital Rights,” officially establishing a regulatory framework for compliant cryptocurrency trading within Russia. The bill permits Russian cryptocurrency exchanges to list digital assets that meet strict quantitative thresholds based on market capitalization, trading volume, and trading history. Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have all been confirmed to meet the eligibility criteria.

Three Core Entry Standards: Which Cryptocurrencies Can Enter the Russian Market

The bill sets a set of rigorous quantitative standards that any decentralized or foreign-issued digital currency must meet to obtain trading permission within Russia.

Entry Requirements for Cryptocurrencies into the Russian Regulatory Market

Market Capitalization Threshold: An average market cap exceeding 5 trillion rubles (approximately $600 billion) over the past two years.

Trading Volume Threshold: An average daily trading volume of at least 1 trillion rubles (approximately $120 billion) during the same period.

Trading History Requirement: At least five years of public trading history, including verifiable official closing price records.

According to a copy of the bill disclosed by the business media RBC and data from CoinMarketCap, Bitcoin, Ethereum, and Solana all meet these standards. For example, Solana has been trading since 2020, with a market cap close to $50 billion and a daily trading volume of about $2.8 billion. These indicators will be verified using data from global platforms authorized within the jurisdiction, with the average trading volume threshold on these platforms not falling below 100 billion rubles.

Central Bank Regulatory Powers and Ban on Privacy Coins

The bill authorizes the Central Bank of Russia (CBR) to maintain a list of digital assets permitted for circulation within Russia, while also granting the financial intelligence agency Rosfinmonitoring the authority to blacklist certain cryptocurrencies. Assets listed on the blacklist will be prohibited from trading, and both companies and individuals are forbidden from holding them. Privacy-focused cryptocurrencies are explicitly included in the ban, meaning such assets will not be legally tradable in the Russian market.

The bill also officially classifies cryptocurrencies and stablecoins as “monetary assets,” expanding the scope of legal holders beyond qualified investors to include ordinary Russian citizens.

Investment Limits, Fines, and Criminal Penalties for Citizens

The annual investment limit for ordinary Russian citizens in cryptocurrencies is set at approximately $4,000, while qualified investors are not subject to this restriction. Enforcement introduces tiered penalties: violations by exchanges can result in fines up to 1 million rubles (about $12,000); illegal mining entities face fines up to 2.5 million rubles (about $30,000); and a criminal law amendment proposed by the Ministry of Justice (already approved by the government) stipulates that large-scale illegal mining could lead to imprisonment for up to five years.

The office of Russian Deputy Prime Minister Dmitry Grigorenko confirmed to Forbes Russia that the bill has been passed, noting it is based on the regulatory plan announced by the CBR at the end of December last year. Russia plans to utilize existing financial infrastructure—including banks, brokers, and traditional securities exchanges—to process cryptocurrency transactions, with some institutions already offering crypto derivatives services.

Frequently Asked Questions

Q: Which cryptocurrencies meet Russia’s entry standards?
A: The bill requires an average market cap over the past two years exceeding 5 trillion rubles (about $600 billion), an average daily trading volume of at least 1 trillion rubles (about $120 billion), and at least five years of trading history. According to CoinMarketCap data, Bitcoin, Ethereum, and Solana all meet these three standards.

Q: How can ordinary Russian citizens participate in cryptocurrency investment under the new law?
A: Ordinary Russian citizens can legally trade approved cryptocurrencies, but their annual investment is capped at about $4,000. Qualified investors are not subject to this limit. Privacy-focused cryptocurrencies are explicitly banned, and violations can result in fines or criminal prosecution.

Q: When will the Russian cryptocurrency law officially come into effect?
A: The bill has completed approval by the government’s legislative committee and must be passed by the Russian parliament before July 1, 2026, to become law. It is based on the regulatory plan announced by the CBR at the end of last year.