In our article "Gaps in the regulation of cryptocurrency circulation in Russia", we looked at the unresolved issues in Russian crypto regulation at the end of 2025. 2025 firmly established the preconditions for regulation — delaying the process any further is no longer possible from either a legal or an economic point of view. 2026, in turn, will allow the first version of full-fledged market regulation to be developed on that basis. In this article we look at exactly which changes are expected in this area.

Forecasts for 2026: what will change in regulation

All signs suggest that 2026 will be a turning point for the Russian crypto market in terms of regulation. For the first time, all government bodies have reached a compromise: it needs to be regulated.

Licensing of crypto exchanges and exchangers

As early as the first half of 2026, a bill is likely to be put up for discussion establishing the procedure for licensing organisations that provide cryptocurrency exchange and trading services. Licences for crypto platforms are expected to be issued by the Bank of Russia.

The requirements for licence applicants can already be predicted:

• a mandatory Russian legal entity with the required charter capital;
• appointment of a compliance officer;
• AML/CFT measures, including mandatory identification and verification of users, with their data stored within the Russian Federation;
• digital compliance measures, including mandatory risk screening of cryptocurrency transactions and blocking of risky ones;
• meeting technical requirements for cryptocurrency trading platforms on resistance to hacking and information security.

It can also be predicted that in the first phase of the new law a full stand-alone crypto exchanger licence will not be activated, and the right to conduct cryptocurrency activities will be given to participants that already hold a licence, such as banks or professional securities market participants. This is at least consistent with the Central Bank's concept for regulating cryptocurrencies on the Russian market of 23 December 2025.

A "transition period"

As happened when licensing was introduced in neighbouring countries, the legislator will give existing participants in the grey cryptocurrency exchange market time either to obtain a licence or to wind down their activities without sanctions.

It is logical to expect that as early as 2027 any cryptocurrency activity outside the licensed perimeter will be completely banned and liability (administrative and criminal) will be introduced for operating without a licence.

Restrictions for retail investors

Separately, the Central Bank intends to limit the amounts that can be invested in cryptocurrency. The regulator proposes to allow both qualified and non-qualified investors to invest, but with mandatory risk-awareness tests. Note that from 1 January 2026 the minimum assets a qualified investor must hold will increase from RUB 12,000,000 to RUB 24,000,000.

Under the regulator's proposal, non-qualified investors will only be able to buy the most liquid cryptocurrencies within a limit of no more than RUB 300,000 per year through one intermediary.

The final decision on this issue will be made when the bill is drafted.

Regulation of stablecoins

In 2026, new legislation should close the gap by recognising stablecoins as a separate asset with its own legal status and establishing rules for their circulation.

For business, the emergence of stablecoin status is an opportunity to launch their own projects (for example, Russian companies issuing rouble or commodity stablecoins, which is possible now but with significant restrictions).

There are not many regulatory options here, and the following can be predicted:

• "correcting" the definition of digital currency by removing the part relating to the "absence of an obligated person";
• establishing special rules for stablecoins issued as hybrid digital rights and allowing licensed crypto exchangers to admit them to trading on a par with digital currency.

Conclusion

If the announced plans are implemented, by the end of 2026 Russia will have a legal segment of cryptocurrency circulation with licensed participants, reporting and supervision.

The cryptocurrency market in Russia is thus set to move from a long-standing grey zone to an era of strict but fair regulation. Time will tell how effective this model proves to be, but one thing is already clear: the law will no longer stand still, and 2026 will go down in history as a turning point for the Russian crypto industry.

If you are planning to launch a cryptocurrency project, work with digital assets or prepare for changes in crypto market regulation and want to identify the applicable requirements and reduce legal risks in advance, C Cases specialists are ready to carry out a legal analysis and support the implementation of your project with the specifics of your business in mind.

Sources

1. Federal Law No. 259-FZ of 31.07.2020 "On Digital Financial Assets, Digital Currency and Amendments to Certain Legislative Acts of the Russian Federation";
2. Federal Law No. 115-FZ of 07.08.2001 "On Countering the Legalisation (Laundering) of Criminal Proceeds and the Financing of Terrorism";
3. Federal Law No. 161-FZ of 27.06.2011 "On the National Payment System".