Russia is preparing to overhaul its cryptocurrency market with a strict licensing regime for digital asset exchanges set to take effect on July 1, 2027, marking a decisive shift from years of regulatory ambiguity toward a tightly controlled, state-supervised framework. At the center of the initiative is the Bank of Russia (CBR), which has moved away from its earlier ban-first posture to champion a licensing and “whitelist” approach. Under the proposal, only approved exchanges and digital assets will be allowed to operate legally in the country, while unlicensed platforms will face civil and criminal liability. The ... (full story)