On February 16, the Bank of Russia proposed allowing both qualified and unqualified investors to purchase cryptoassets under established rules, with new legislation expected by July 1, 2026. On February 25, the Bank of Russia and the Ministry of Finance agreed to ban cryptocurrency as a means of payment, with exceptions for foreign trade, aiming to create regulated exchanges and digital depositories by July 1, 2027. By February 27, authorities proposed a "banking filter" and blacklist for cryptocurrency market participants, with most operations to go through banks. Moscow Exchange considered launching crypto trading.

On March 5, Bank of Russia Governor Elvira Nabiullina stated that cryptocurrency circulation should converge with digital financial assets. The central bank proposed allowing banks and brokers to obtain crypto-exchanger licenses with a 1% capital limit. On March 19, the Ministry of Finance reported disagreements over criminal amendments. On March 23, the government commission approved the draft law "On Digital Currency and Digital Rights," setting criteria for crypto trading on Russian exchanges (minimum 5 trillion rubles capitalization, 5 years of trading history) and criminal liability for illegal mining (fines up to 2.5 million rubles or up to 5 years imprisonment).

On March 27, a draft was submitted to the Duma, prohibiting trading through unlicensed exchanges, limiting annual investments to 300,000 rubles under Central Bank supervision. On April 1, the government submitted the digital currency bill to the Duma. On April 2, a bill required Russian residents to notify tax authorities about foreign crypto wallets. On April 9, the Bank of Russia announced plans for criminal liability for unlicensed crypto exchange operations. On April 16, First Deputy Chairman Vladimir Chistyukhin stated that Russians could open foreign crypto wallets but must notify tax authorities. On April 17, the government submitted a draft law on criminal liability for illegal crypto operations (up to 7 years imprisonment). On April 21, the Duma adopted the digital currency bill in the first reading, allowing crypto trading through licensed intermediaries from July 1, 2026.

On April 30, Chistyukhin stated the central bank opposes non-custodial wallets. On May 7, a Duma committee recommended adopting the criminal liability draft for illegal mining (up to 5 years). On May 19, the Bank of Russia announced plans to allow Russian broker clients access to foreign crypto exchanges, and foreign trade participants can conduct any crypto operations. On May 27, the Duma adopted in first reading criminal liability for illegal mining. On May 28, the crypto regulation bill included a cooling-off period for withdrawals; Sberbank prepared infrastructure for crypto operations from July 1.

On June 4, Chistyukhin stated that only bitcoin, ethereum, and USDT would be available for unqualified investors, with a 300,000 ruble limit. On June 9, Central Bank Deputy Chairman Mikhail Mamuta stated that testing will be required for all investors, with white and black lists. On June 18, the digital currency bill was supplemented with a norm allowing a special regime in response to sanctions. On June 27, the Central Bank included crypto pair exchange in the bill. On July 1, State Duma Financial Markets Committee Chairman Anatoly Aksakov stated that the digital currency law will take effect on September 1, 2026, a delay from July 1. On July 2, First Deputy Chairman Vladimir Chistyukhin confirmed the September 1 effective date and a transition period until July 1, 2027. He explained the postponement resulted from complex discussions, a large number of amendments, and the search for compromises, as reported by РБК and Коммерсантъ. First cryptocurrency operations may begin in November 2026, with all sub-regulatory acts expected by then, according to Forbes Russia and РБК. Moscow Exchange plans to start operations after the law is in place, with launch previously expected in early 2027, according to РБК. Chistyukhin also noted that stablecoins are not included, and foreign participants must operate through Russian intermediaries.

On July 6, Sberbank First Deputy Chairman Kirill Tsarev announced plans to launch a crypto wallet and digital depository after the law enters force on September 1, according to РБК. The crypto wallet will appear in the Sber and SberInvestments apps within several months of the law's adoption, and the depository by December 1, 2026. Other banks, including VTB and T-bank, also announced similar services.

On July 7, the State Duma Financial Market Committee prepared amendments for the second reading of the cryptocurrency bill that soften several restrictions, according to Интерфакс. The amendments permit cryptocurrency payments for securities (excluding public offerings), cryptocurrency exchanges, and blockchain fee payments. Exchange access is eased: unqualified investors may trade coins temporarily permitted by the Central Bank, while qualified investors may trade any coins. A crypto loan regime through licensed intermediaries is introduced. The law's effective date remains September 1, 2026, with some provisions taking effect in 2027.

On July 17, the committee finalized further amendments for the second reading, introducing a mechanism for banks to block crypto transfers suspected of illegal turnover, and a 48-hour delay on transfers exceeding 100,000 rubles to an external wallet and 300,000 rubles to third parties, as an anti-fraud measure set to take effect on September 1, 2027, according to ForkLog and Интерфакс.

On July 21, the State Duma adopted the digital currency law in the second and third readings, according to the Central Bank of Russia and CoinDesk. The law recognizes digital currencies as property and provides judicial protection for rights, as reported by ForkLog. Only registered organizations may operate crypto exchanges. Unqualified investors must undergo testing and may purchase up to 300,000 rubles (approximately $3,800) of cryptocurrency annually per licensed intermediary, while qualified investors face no limit, according to Meduza. Domestic cryptocurrency payments remain prohibited, but cross-border settlements are permitted. The law also establishes infrastructure for crypto exchanges and digital depositories, with the first operations expected in November 2026. It takes effect on September 1, 2026, with a transition period until July 1, 2027.

On July 25, the Federation Council approved the law regulating crypto trading through licensed intermediaries, according to CoinDesk. Public trading will be limited to cryptocurrencies meeting specific liquidity thresholds — market capitalization above $64 billion and daily trading volume above $12.8 billion over two years — while qualified investors may access a broader range. The digital depository, which Sberbank plans to launch by December 1, will record client ownership and process transactions off-chain.

On July 27, the Bank of Russia published draft regulatory acts for launching organized trading of digital currencies and digital rights, establishing conditions for organized trading, requirements for digital depositories (minimum capital of 50 to 250 million rubles), and requirements for electronic platform operators. The regulator put the documents out for public consultation, according to the Central Bank of Russia. According to Интерфакс, the regulator will maintain a registry of depositories and set accounting rules. The same day, ForkLog reported that demand for cryptocurrency exchange services without identity verification, such as ONLYP2P, has grown amid the adoption of the new regulation.