Since September 1, new rules for cryptocurrency have come into force in Russia: digital assets are recognized as property, and buying and selling them is permitted through domestic regulated infrastructure. The problem is that there is almost no infrastructure yet – the Central Bank is still finalizing the rules for its participants.

A transitional period is in effect until June 30, 2027. Russians will be able to use familiar services, and from July, transactions within the Russian circuit will have to go through intermediaries included in the registers of the Bank of Russia.

The new market will be structured much like a traditional financial one. Cryptocurrency can be bought through brokers and crypto exchangers, traded on licensed platforms, and storage and accounting will be handled by digital depositories – special organizations that will record transactions and be responsible for the safety of assets.

Major players are already preparing for launch. "Sber" is working on its own digital depository and wants to add a crypto wallet to "SberBank Online". T-Bank plans a similar service based on "Atomize", VTB – access to cryptocurrency through "VTB My Investments". The Moscow and SPB Exchanges previously announced plans to launch trading by the end of 2026.

For ordinary investors, the Central Bank proposes to set limits: up to 300 thousand rubles per year through each licensed intermediary and only three most liquid cryptocurrencies – Bitcoin, Ethereum, and Tether USDT. For qualified investors, such limits are not provided in the published drafts.

Experts, however, do not expect a rapid emergence of a full-fledged market. The first licensed services may start operating by the end of 2026, but significant volumes are not expected until 2027. And the formation of stable infrastructure, user trust, and normal liquidity may take several years.