Russia's crypto legal framework is now in force, and the government has designated the creation of a regulated cryptocurrency market as a national priority. The Bank of Russia has set a year-end 2026 target for approving its first licensed market participants. Federal Law No. 282-FZ channels cryptocurrency trading, brokerage and custody toward supervised domestic operators while maintaining the ban on using crypto for domestic payments. Deputy Finance Minister Ivan Chebeskov has estimated that about 20 million Russians use crypto and hold roughly 3.7 trillion rubles ($44 billion) in crypto and related products, while the Finance Ministry anticipates about 10 million additional users in 2027. No firms have yet been licensed, leaving the first named approval as the next operational milestone. The framework also coincides with Moscow Exchange preparations to list crypto perpetual futures on major assets.