The Russian cryptocurrency industry is expected to operate legally by the end of the year, and regulatory rules are progressing as planned

Vladimir Chistykhin, Deputy Governor of the Russian Central Bank, stated that the country's cryptocurrency industry is expected to operate legally by the end of the year, and relevant regulatory rules are progressing as planned. Internal rule adjustments are expected to be completed by the end of 2026. Russian President Putin signed a law in August establishing a digital currency management framework that prohibits the use of Bitcoin for payments. Non qualified investors can purchase Bitcoin and other assets worth 300000 rubles (approximately $3582) through a single intermediary. Sberbank plans to launch a cryptocurrency wallet and digital asset custody service in December, with an expected transaction volume of 4 trillion rubles (approximately 47 billion US dollars) in the first year of the new business. (Source: International News Agency)