Russian crypto industry may meet conditions for legal operation by end of 2026, central bank deputy governor says regulation is progressing as planned

Odaily News: Vladimir Chistyukhin, Deputy Governor of the Central Bank of Russia, stated that the Russian crypto industry may already have the conditions needed to operate legally by the end of 2026, and related regulation is progressing as planned. Currently, large-scale secondary regulatory rules are 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 the public to trade 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 in the first year of related operations to reach 4 trillion rubles, approximately $47 billion.