The number of people investing in cryptocurrencies in Russia is continuously growing. According to the latest data, Russia accounts for about 28% of global crypto exchange traffic, which is enough to demonstrate the market's activity. But the issue is—many beginners are completely unaware of the legality of purchasing cryptocurrencies in Russia, the specific procedures involved, and the accompanying tax obligations. This article will help you clarify your thoughts.
Russia's legal status of cryptocurrencies: Legal or restricted?
Are cryptocurrencies legal in Russia?
The answer to this question is: legal, but restricted. Since the enactment of the "Digital Financial Assets Law" (№259-ФЗ) in 2021, cryptocurrencies have been recognized as property in Russia, which means you can buy, sell, and hold them. But there's a caveat—you cannot use cryptocurrencies for payments within Russia.
Legislative updates in August 2024 went even further. Putin signed a new decree officially allowing mining and opening