Bank of Russia: Hopes illegal cryptocurrency exchange institutions disappear by July 1, 2027

According to TASS, the Bank of Russia stated its hope that illegal cryptocurrency exchange operators will disappear and that related gray areas should cease to exist before July 1, 2027. Earlier, Russian President Vladimir Putin signed legislation legalizing cryptocurrencies on August 4, which classifies digital currencies as property and assigns market regulatory duties to the Bank of Russia. Its main provisions took effect on September 1, 2026, but cryptocurrency exchange operators may continue to operate without being registered with the central bank until July 1, 2027.