Russia has enacted Federal Law No. 282-FZ, effective September 1, 2026, requiring residents to report any crypto holdings tied to foreign digital asset infrastructure to the Federal Tax Service. Approximately 20 million Russians hold digital assets valued at roughly 3.7 trillion rubles (about $44 billion), with daily transaction volumes reaching approximately 50 billion rubles (roughly $600 million). Retail investors who pass risk assessment tests are limited to purchasing 300,000 rubles worth of authorized digital assets per intermediary per year, equivalent to roughly $3,600 at current exchange rates. USDT is the only stablecoin approved for retail access on regulated platforms, while other foreign stablecoins are prohibited for non-qualified investors. Deputy Finance Minister Ivan Chebeskov warns of freeze risks associated with foreign stablecoins, citing Tether’s 2025 decision to freeze assets linked to Garantex, a Russian exchange under Western sanctions.
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