Can Russians freely transfer crypto abroad from Sept 1?

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Russians Can Transfer Cryptocurrency Abroad Under New Regulations from September 1

Starting September 1, Russians will be permitted to transfer cryptocurrency abroad to their own wallets or to foreign merchant accounts for the purpose of paying for goods and services. This development follows the enactment of a new law that establishes a legal framework for cryptocurrency circulation within Russia. The legislation officially recognises digital currencies as property, outlines general requirements for their circulation, and ensures judicial protection for cryptocurrency rights.
Qualified and Non-Qualified Investors Can Transfer Assets Abroad

Both qualified and non-qualified investors will be able to acquire cryptocurrencies and stablecoins, provided they meet the established criteria. Crucially, these individuals will be allowed to transfer such assets internationally. This includes sending them to their own wallets held abroad or to non-residents for the purchase of goods and services from those non-residents.
Foreign Trade Payments in Cryptocurrency Are Permitted

The new legal framework also extends to foreign trade participants, allowing them to conduct payments using cryptocurrencies and stablecoins within the scope of their foreign trade agreements. This provision aims to facilitate international transactions involving digital assets.
Transactions Subject to Currency Control and AML Legislation

While these transfers and payments are now permissible, they will not be entirely unrestricted. All such cryptocurrency transactions will be subject to standard currency control mechanisms and anti-money laundering (AML) legislation. The Bank of Russia is expected to issue a regulatory act detailing the specific requirements for residents and non-residents to submit supporting documents to authorised banks for these foreign exchange transactions.

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Can Russians freely transfer crypto abroad from Sept 1?

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