Russia’s Federal Law No. 282-FZ took effect on September 1, 2026, placing cryptocurrency trading, custody and selected cross-border settlements under Bank of Russia supervision while preserving a general ban on domestic crypto payments for goods and services. Licensed intermediaries can offer Bitcoin, Ethereum and USDT to non-qualified investors subject to suitability testing and a 300,000-ruble annual cap per platform, while qualified investors face testing but no purchase ceiling. SberCIB Investment Research forecasts regulated exchange trading of 3.5–4 trillion rubles in the first year, 4.75–5.25 trillion rubles in 2028 and about 7.5 trillion rubles by 2029, compared with estimated overall Russian crypto turnover of 18 trillion rubles including P2P and grey-market flows. At the same time, Russia began a large-scale rollout of the digital ruble, the Bank of Russia-issued central bank digital currency and third form of the national currency alongside cash and conventional bank money. Consumer use is voluntary, transfers between individuals and consumer payments are free, and individuals may add up to 300,000 rubles monthly from conventional accounts or electronic-money balances. Unlike cryptocurrency, the digital ruble is centralized, legal tender, fixed one-to-one with the conventional ruble and held on the Bank of Russia’s platform. Businesses face staged mandatory acceptance beginning September 1, 2026, for covered companies with annual revenue above 120 million rubles, expanding to thresholds of 30 million rubles in 2027 and 20 million rubles in 2028. Russia is developing cross-border digital-ruble use, but ordinary users currently have domestic access only. Sber is prioritizing corporate crypto infrastructure, including foreign-economic-activity settlements, bitcoin-collateralized lending and an AI payment-routing system covering 142 countries, while the Bank of Russia promotes digital-ruble transparency and programmable payments as tools against grey schemes.