Putin signs law regulating crypto exchanges, bans domestic crypto payments

Russian President Vladimir Putin has signed a landmark law that establishes a regulatory framework for crypto exchanges, digital depositories, and market participants, as reported by TASS. While the law introduces regulation for these entities, it maintains a ban on using cryptocurrency for domestic payments within Russia. The Bank of Russia is set to be the main regulator for this framework, with a transition period extending through July 2027. The regulation aims to create a legalized infrastructure for buying, selling, and storing digital currencies through licensed intermediaries. Crypto markets appear to have interpreted the development as a mixed indicator for Bitcoin’s future price, especially in speculative markets. The introduction of regulatory clarity is seen as potentially positive for institutional engagement. However, the continued ban on using cryptocurrencies as a means of payment could dampen broader retail enthusiasm, which may be impacting market sentiment regarding Bitcoin’s ability to reach high price targets. Current market odds for Bitcoin reaching $200,000 by December 31, 2026, remain low, with pricing reflecting a 2% probability. The regulatory framework se...