President Vladimir Putin has signed the Law on Digital Currencies and Digital Rights, establishing Russia's first comprehensive regulatory framework for the cryptocurrency market.
The legislation creates a legal basis for the issuance, circulation, and trading of digital assets within the country, marking a significant shift in Moscow's approach to virtual currencies.
The move formalizes a market that has operated largely in the gray area, providing clarity for financial institutions and investors.
By defining digital rights and currency regulations, the government aims to integrate crypto assets into the broader financial system while maintaining oversight.
This development follows earlier steps by Russian financial institutions to prepare for a regulated environment.
Alfa Bank, the country's largest private lender, has already begun testing cryptocurrency trading functionality on its investment application.