PANews reported on December 5th that, according to Cryptopolitan, Anatoly Aksakov, Chairman of the Financial Markets Committee of the Russian State Duma (lower house of parliament), stated that cryptocurrencies and stablecoins will be a focus of Russian legislation next year. As Russia begins to regulate its crypto sector, building a legal framework for digital finance will be a top priority. Aksakov reminded that the Central Bank of Russia has announced its intention to introduce comprehensive cryptocurrency regulations by 2026.

Previously, Russian regulators had long opposed allowing free cryptocurrency trading in the Russian economy. However, this week the agency signaled its readiness to support easing regulations on cryptocurrency circulation. Currently, crypto assets and their derivatives can only be purchased, traded, and consumed within a very limited "experimental legal regime" by a small group of privileged market participants, including foreign trade companies, financial institutions, and "highly qualified" investors. The Russian monetary authorities are discussing with the Ministry of Finance how to expand investor access and regulate transactions outside the "experimental legal regime." Previously, the authorities had indicated they would allow banks to conduct digital currency-related business and permit funds to invest in cryptocurrency-based derivatives.