Mikhail Uspenskiy

Home / Law No. 282-FZ

Digital Currencies and Digital Rights Act

On 4 August 2026, Federal Law No. 282-FZ on Digital Currencies and Digital Rights was signed — the first act setting comprehensive rules for cryptocurrency circulation in Russia; together with companion Law No. 283-FZ amending related legislation. The main provisions took effect on 1 September 2026; roll-out is staged and completes by 1 September 2027.

1 May 2027 until the duty to report crypto wallets
1 July 2027 until the end of the intermediary licensing transition period
1 September 2027 until completion of staged law roll-out
Essence

Three theses

  • Cryptocurrency is finally fixed as property
  • Professional activity with it — exchange, custody, intermediation — moves to a register model under Bank of Russia supervision
  • For business — regulated cross-border settlements; for individuals — holding and transactions through legal infrastructure

Details — limits, lists of available currencies, participant requirements — are set by Bank of Russia regulations issued in stages.

Timelines

Roll-out timeline

  • 4 August 2026Signing and official publication of No. 282-FZ and No. 283-FZ
  • 1 September 2026Entry into force of the main provisions, phase 1
  • Autumn 2026 and beyondBank of Russia regulations jointly with the government and specialised bodies: limits, testing procedure, requirements for exchangers, list of available cryptocurrencies
  • Through end of 2026Expected launch of exchange trading in crypto assets
  • 1 May 2027Onset of the duty to report crypto wallets — 270 days from publication, part 3 of Art. 23 of No. 283-FZ
  • 1 July 2027End of the intermediary licensing transition period, phase 2
  • 1 September 2027Completion of staged roll-out, phase 3
For business

What business may and may not do

Allowed

  • Holding digital currency on the balance sheet as property
  • Settling with it under foreign-trade contracts through legal infrastructure
  • Mining when included in the register
  • Issuing and using DFAs

Not allowed

  • Using cryptocurrency as a means of payment in domestic settlements between residents
  • Carrying on exchange activity outside the register after the transition period
  • Ignoring bank requests about sources and the economic meaning of transactions
For individuals

What individuals may and may not do

Allowed

  • Holding cryptocurrency
  • Buying and selling through lawful operators
  • Declare income and pay tax under clear rules
  • Defending rights to crypto assets in court

Not allowed

  • Accepting cryptocurrency in payment for goods and services inside the country
  • Systematically exchanging without operator status

Watch point: the duty to report wallets arises on 1 May 2027 — forms are being developed, but the deadline is fixed.

Checklist

What business should do now

  1. Inventory of a group’s crypto assets and flows — what passes through whom
  2. Assessment: whether activity falls under register requirements — exchange, mining, intermediation
  3. Review of contracts with counterparties and settlement intermediaries
  4. Preparing a bank compliance pack: rationale, sources, business model
  5. Setting up tax and accounting for transactions
  6. Monitoring Bank of Russia regulations — key parameters appear there
Questions

18 questions on the law

Is cryptocurrency now legal in Russia?
Yes, as property and an investment object; as a means of payment inside the country — no.
Can one pay in cryptocurrency abroad?
Yes, under foreign-trade contracts through legal infrastructure; this is one of the law’s main innovations.
What is the operator register and who must join it?
Bank of Russia register for professional participants: exchangers, intermediaries, infrastructure. Systematic activity outside the register after 1 July 2027 is unlawful.
My coins on a foreign exchange — what to do with them?
Holding is not prohibited. The duty to report wallets arises on 1 May 2027 (270 days from publication of No. 283-FZ); forms are being developed. By that date it is sensible to have a documented history of asset origin.
Must I declare cryptocurrency already now?
Income from transactions — yes, under general tax rules. Special wallet reporting — from 1 May 2027, after the regulator approves the forms.
What is the risk of exchanging without operator status?
After the transition period — blocking and liability of management; special offences are being prepared in parallel (draft Arts. 171.6 and 171.7 of the Criminal Code, Art. 15.29.1 of the Code of Administrative Offences). Final sanctions before these drafts are enacted would be premature, but the enforcement direction is clear.
The bank requested explanations on USDT — is that lawful?
Yes. Banks are charged with controlling the cleanliness of funds; requests for the economic rationale are lawful and must be answered with documentation.
Will there be a Russian crypto exchange?
Infrastructure is being built: major banks are creating operators, exchange venues are preparing to launch trading. The circle of admitted participants at the start will be limited.
Who will be able to trade on lawful venues?
The starting model is oriented to qualified participants; admission parameters are set by the regulator.
What about mining?
Register model under FNS administration: registration, tax on mined output, reporting. Details — page ‘Mining, pools, hashrate’.
How do DFAs differ from cryptocurrency under the new law?
DFAs are regulated rights issued in Russian information systems; cryptocurrency is decentralised assets without a resident issuer. Circulation regimes differ.
Can I recover cryptocurrency through the courts?
Property status secures judicial protection: recovery, inclusion in the insolvency estate, division. Practice was already moving this way; the law fixes it.
Is cryptocurrency inheritable?
As property — yes; the practical problem is access to keys, resolved by advance legal arrangements.
What is the transition period until 1 July 2027?
Time for intermediary licensing and infrastructure adaptation: operations can continue, but activity must be brought into compliance in parallel.
Will the law affect P2P transfers between private persons?
One-off deals remain in the private sphere; sales above RUB 3.5 million put the seller into the status of an organisation carrying out exchange (Art. 18 of No. 282-FZ).
How does the law relate to sanctions risk?
Legal infrastructure creates transparency that has a reverse side: coin provenance and chains become traceable. This is a factor in choosing a settlement model.
Will there be new taxes on cryptocurrency?
Rates do not change — the rules are clarified: timing of income recognition, valuation, expense accounting. The main risks are in accounting detail, not in rates.
Where to follow regulations?
The main body is Bank of Russia and government acts. Briefings on key documents are published in the Telegram channel @uspenskiy100 and in knowledge base site.
Next

Briefings as Bank of Russia acts are issued

Key parameters of the law appear in Bank of Russia regulations. Document briefings — in the Telegram channel and in knowledge base. Practice areas: foreign-trade settlements, exchange licensing, mining.

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