Russia to Regulate Cryptocurrencies with Isolated Market and Unique Prices
Russia will implement a new scheme for trading Bitcoin, Ether, and USDT through intermediaries, limiting annual investments in cryptocurrencies to less than $4,000 per intermediary. This framework could result in a trading circuit separate from international references, according to Vladislav Kochetkov, president of the financial group Finam. Assets could be traded at discounts in Russia due to the lower number of buyers willing to accept them and the difficulties in transferring them to other markets. Although a specific figure was not provided, the price difference is expected to be significant. The traceability of these assets could lead certain counterparties to avoid receiving them, creating a unique price circuit and arbitrage opportunities for operators willing to take risks. However, this could also increase volatility and complicate access to international markets. This scenario will coincide with the entry into force, on September 1, 2026, of new Russian legislation on digital currency, which will allow non-professional investors to access assets such as Bitcoin, Ether, and USDT, under investment limits and through authorized entities. Banks and specialized platforms will participate under different licensing schemes, with digital deposits taking on custody and registration functions. Kochetkov anticipates that the Russian market will focus on speculation and trading of assets, rather than their everyday use as a means of payment.
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