Russia's crypto industry may be ready for legal operation by the end of 2026, central bank deputy governor says regulation is on track

Odaily News: Vladimir Chistyukhin, Deputy Governor of the Central Bank of Russia, stated that Russia's crypto industry may already have the conditions needed to operate legally by the end of 2026, with related regulation progressing as planned. A large-scale set of secondary regulatory rules is currently being drafted, and fine-tuning of internal rules is expected to be completed by the end of 2026. Russian President Vladimir Putin signed a law in August establishing a framework for the management of digital currency and digital rights, but Bitcoin payments remain prohibited. The central bank has approved public trading of Bitcoin on Russian crypto exchanges. Non-qualified investors can purchase Bitcoin and other assets worth 300,000 rubles (approximately $3,582) through a single intermediary, while qualified investors are not subject to restrictions. Sberbank, Russia's largest bank, plans to launch Bitcoin and crypto wallets and digital asset custody services in December, and expects trading volume for the related business to reach 4 trillion rubles (approximately $47 billion) in its first year of operation.