PANews reported on May 20th, citing Bits.media, that the Central Bank of Russia intends to ban Russian citizens from trading on cryptocurrency exchanges that comply with international sanctions. Ekaterina Lozgacheva, Director of the Strategic Development Department of the Central Bank of Russia, stated that the central bank plans to prohibit Russians from trading on foreign cryptocurrency exchanges that comply with international sanctions. Russians will only be able to trade cryptocurrencies on foreign platforms through Russian brokers, provided that these foreign platforms do not comply with international sanctions.

The country's central bank will set its own standards for foreign platforms that Russian brokers and investors can use. Lozgacheva stated that even cryptocurrency trading outside Russia through Russian intermediaries is subject to foreign regulation and carries additional risks. Non-professional investors will be limited to an annual cryptocurrency purchase limit of 300,000 rubles and can only access the most liquid crypto assets through domestic brokers. A test must be passed before trading; qualified investors are not subject to limits but must also undergo testing. These restrictions will be incorporated into the second reading of the draft law on digital currency and digital rights, with key provisions expected to take effect on July 1st.