Russia's central bank will only allow cryptocurrency transactions through non-cash methods, according to First Deputy Chairman Vladimir Chistyukhin. The move aims to ensure controlled fund flows and prevent illegal activities such as money laundering. The central bank and the Ministry of Finance have been working on a regulatory framework for the crypto market since last autumn. The proposed legislation was submitted to the State Duma in March and is expected to take effect on July 1, 2026. Institutions operating without a license will face severe penalties.