After the new rules come into force, participants in the cryptomarket will have to operate according to new requirements, including the registration of regulated participants and oversight by the Bank of Russia. The changes will affect crypto exchanges, digital depositories, advertising of services with digital assets, and the use of cryptocurrency in foreign trade. This was reported to Izvestia on August 28 by Dmitry Khrulev, Vice President of the International Association of Mediators "Sila Dialoga".
According to the expert, Federal Law No. 282-FZ introduces separate regulation for the cryptomarket and establishes requirements for crypto exchanges, digital depositories, and other participants in the field. The Bank of Russia will gain the right to maintain registries, conduct inspections, and issue mandatory instructions.
"Starting September 1, Federal Law No. 282-FZ, which introduces separate regulation for the cryptomarket, begins to operate in Russia. It establishes requirements for crypto exchanges, digital depositories, and other participants. Their work will be monitored by the Bank of Russia, which will gain the right to maintain registries, conduct inspections, and issue mandatory instructions," Khrulev noted.
One of the directions of the new regulation will be the use of digital currency in foreign trade settlements. According to the expert, exporters and importers will be able to conduct such operations directly or through an intermediary if they are related to a foreign trade contract between a resident and a non-resident.
To conduct such operations, companies will need to retain the contract, payment terms, and confirmation of the transaction. When using addresses outside Russian digital depositories from May 2, 2027, organizations will be required to submit reports with supporting materials to tax authorities.
Furthermore, operations under foreign trade contracts amounting to 10 million rubles or more will be subject to mandatory control.
Meanwhile, the use of cryptocurrency for payment of goods, works, and services within Russia remains prohibited, except for cases provided by law.
Khrulev noted that separate administrative fines for violations of digital currency operation rules have not yet been adopted. The relevant draft law is under consideration. However, the Bank of Russia will be able to issue mandatory instructions and exclude violators from registries.
Separate requirements will apply to crypto exchanges and digital depositories. To operate, they will need to obtain permission and be included in the Bank of Russia's registries. By July 1, 2027, market participants must bring their activities into compliance with the new requirements.
After this date, residents will be able to conduct operations with digital currency through regulated market participants or with their participation. Banks will be able to limit transfers to persons who illegally organize the circulation of cryptocurrency.
The new rules will also affect advertising of services related to digital assets. According to Khrulev, such advertising must contain information about the organizer, a warning about high risk and the possibility of complete loss of investments.
Furthermore, it is prohibited to specify a specific cryptocurrency, promise profitability, or forecast changes in the exchange rate of a digital asset.
For owners of digital assets, the risks of losing funds and fraud remain. In case of a dispute with a regulated market participant, a citizen will be able to file a complaint and also appeal to the Bank of Russia.
The expert noted that after the new rules come into force, market participants need to consider the established requirements and risks of operations with digital assets.
Russian President Vladimir Putin signed a law establishing the legal framework for the circulation of cryptocurrencies in the country. The document dated August 4 is aimed at regulating operations with digital currencies and defining the procedure for their use within Russian legislation. The law regulates relations in the sphere of organizing the circulation, accounting, and storage of digital currencies and foreign digital instruments, mining, issuance, and circulation of digital rights.
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