Russia Cracks Down on Crypto Trading with New Regulation Package

Russia's government has approved a package of crypto regulation bills that make trading through regulated intermediaries the only legal route. This move is likely to have significant implications for both Russian citizens and global cryptocurrency markets.

The new laws will impose annual purchase limits on retail investors, restricting their access to high-liquidity coins. Only qualified investors who pass tests and use licensed platforms will be able to trade freely. The regulations also prohibit transactions involving digital currencies without regulated intermediaries.

The Kremlin's goal is to pull flows onshore, tax them, and protect the ruble. This move sets a precedent for other large economies, which may adopt similar 'intermediaries only' models. If this trend continues, it could mark the beginning of the end for the free-wheeling P2P era in crypto.