Russian authorities are seriously intent on integrating digital assets into the system of state financial control. Deputy Finance Minister Alexey Moiseev announced the preparation of proposals under which cryptocurrency will be tracked within the same framework as traditional export currency revenue. This statement was made on the sidelines of the Eastern Economic Forum and marks a new stage in the evolution of regulation.
Monitoring instead of mandatory sales
The key signal here is the rejection of strict repatriation norms in favor of an oversight function. Moiseev emphasized that the current decree regulating the sale of currency revenue has already proven its effectiveness as a monitoring tool. The mandatory sale requirement has now been zeroed out, and, according to the official, there is neither the need nor the preconditions to return to it. The market is stable, and all the "scare tactics" related to gas payments and sanctions pressure on Gazprombank are a thing of the past—dating back to October 2023.
The Ministry of Finance's logic is simple: why impose coercive measures when you can observe and analyze? Including cryptocurrency within this perimeter is a natural step after the adoption of the law legalizing the crypto market. This will allow the state to see the movement of digital assets in foreign trade operations without creating direct restrictions for market participants.
Background: from obligations to zero
Let me recall the timeline. The decree on mandatory repatriation and sale of currency revenue was introduced in October 2023 for a period of six months. It was then extended twice—each time by a year—so it is now in effect until April 30, 2026. In June of this year, Finance Minister Anton Siluanov suggested the regime could be extended until 2029. However, already in mid-August, the government zeroed out the requirements through its resolution, which for the largest exporters (fuel and energy, metallurgy, chemicals, timber, and grain) had been 40% for crediting and 90% for sales.
What this means for the market
The initiative is more observational than prohibitive in nature. Moiseev directly called such a step a logical continuation of digital asset regulation. However, the specific parameters and timelines for including cryptocurrency in monitoring have not yet been disclosed. Everything will depend on the wording that the Ministry of Finance puts forward for discussion.
My view: this is a classic pattern of "first legalize, then regulate." Now that cryptocurrency has received legal status, the state is beginning to build an accounting system. For the market, this is rather a positive signal—transparency reduces the risks of sudden bans. But don't be fooled: once monitoring shows significant volumes, pressure on participants may intensify. Get ready for the "gray zone" to shrink.