Russian financial authorities are again signaling their intention to integrate digital assets into the framework of currency control. Deputy Finance Minister Alexei Moiseev, speaking on the sidelines of the Eastern Economic Forum, outlined the department's position: cryptocurrency should fall within the monitoring perimeter currently applied to exporters' foreign currency revenue. This involves expanding the toolkit provided for by the relevant decree, without returning to strict mandatory sale requirements.
In my assessment, this is an extremely telling step. The regulator is moving from a prohibitive model to an observational one, seeking first to gain a complete picture of flows, and only then to make targeted decisions.
Monitoring instead of mandatory sales
Moiseev emphasized that the current decree, originally introduced in October 2023 to stabilize the market after Gazprombank came under sanctions, now operates as an effective monitoring tool. The requirements for repatriation and sale of currency have been reduced to zero, and according to the official, there is no need to return to non-zero values. The market is stable, and the panic provoked by difficulties with gas payments has subsided.
The logic is simple: why impose obligations if fund movements can be tracked in real time? An observational stance allows authorities to avoid interfering in business operations while always having up-to-date data for rapid response.
History of the decree and new horizons
Let me recall the timeline: the decree, which obliged the largest exporters (fuel and energy, metallurgy, chemicals, timber, grain) to credit at least 40% of currency to accounts in authorized banks and sell 90% of the credited amount, was extended twice and remains in effect until April 30, 2026. At the same time, in August 2025, the government already reduced the requirements to zero. However, as previously reported, Finance Minister Anton Siluanov announced the extension of the regime itself until 2029, indicating that the mechanism is being retained as a reserve tool.
What this means for cryptocurrencies
Including digital assets in this framework is a natural stage following the adoption of the law legalizing the crypto market. The Finance Ministry's initiative essentially creates a precedent: the state will see cryptocurrency movements within operations involving foreign currency revenue without imposing direct restrictions. For now, the parameters and timelines have not been defined, but the direction is set unambiguously.
My conclusion: for business, this is more of a positive signal. Instead of fearing bans, market participants receive transparent rules of the game, where the main requirement becomes reporting rather than sales. However, it is worth remembering: once the regulator accumulates a sufficient volume of data, a tightening of policy toward those using cryptocurrencies to circumvent currency control cannot be ruled out. The market is entering a phase of mature regulation, and this will change the rules of the game for everyone.