Russia to Create Legal Infrastructure for Cryptocurrency Market

The Russian authorities intend to create a legal infrastructure for the cryptocurrency market to bring operations with digital assets into the legal field and reduce risks for citizens. Deputy Finance Minister Ivan Chebeskov stated that digital assets have already become a significant part of the global financial system, with the turnover of the cryptocurrency market in Russia reaching trillion rubles annually. Chebeskov emphasized the need to create infrastructure for the legalization of activities and the protection of citizens. The Ministry of Finance links trust in the financial market with macroeconomic stability and predictable oversight. It is also planned to expand restrictions on the combination of activities in the energy sector and cryptocurrency mining to reduce risks. The government will allocate 147.1 billion rubles for digital transformation by 2027, with increased funding in subsequent years.

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