Ponzi & Scams
By James Thorp
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Who Can Buy What. The bill splits investors into two groups. Non-qualified retail investors can't spend more than…
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Mining Gets a Deadline. Bitcoin mining operations have to register by July 1, 2027.
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Russia's State Duma passed a sweeping crypto bill in its first reading. The move lets exporters and importers use digital assets for international settlements.
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The legislation builds on a regulatory concept the Central Bank of Russia published back in December 2025.
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The bill splits investors into two groups. Non-qualified retail investors can't spend more than 300,000 rubles—that's about $3,800—per year through a single intermediary.
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Only big cryptocurrencies make the cut. The legislation sets a floor: eligible coins need market caps above 5 trillion rubles, roughly $66.
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The Bank of Russia gets broad powers here. It'll issue licenses, oversee transactions, and decide which assets are eligible for trade. It can approve deals or block them outright.
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Bitcoin mining operations have to register by July 1, 2027. After that date, unlicensed mining gets banned.
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The bill lets the federal government prohibit mining in regions with limited energy supply. That's aimed at protecting the national grid during high-demand periods.
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The State Duma Committee on Protection of Competition flagged a risk. Over-regulation could push miners and crypto businesses into the gray economy.
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Tax treatment is shifting too. The legislation signals a move toward treating digital asset investors like traditional bondholders. That's a big deal.
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More context: One-third of european crypto investors switch banks for digital services
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The tiered investor system is kind of unusual. Most countries either ban retail crypto access or let everyone in without caps.
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The bill still has a long way to go. It needs two more readings in the State Duma, then approval from the Federation Council, and finally a presidential signature.
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The focus on established cryptocurrencies is probably meant to reduce risk. Bitcoin and Ethereum have substantial market presence and long trading histories.
The Currency Analytics
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