The Central Bank of Russia Wants Illegal Cryptocurrency Exchanges to Disappear by 2027

The Central Bank of Russia has stated that it hopes illegal cryptocurrency exchange institutions will disappear by July 1, 2027, and that the related gray areas should no longer exist. Previously, on August 4, Russian President Putin signed a law legalizing cryptocurrency, which recognizes digital currencies as property and assigns market regulatory responsibilities to the Central Bank of Russia. The main provisions of the law came into effect on September 1, 2026, but cryptocurrency exchange institutions can continue to operate without being listed in the Central Bank's registry until July 1, 2027.

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