‘Crypto’ regulation enters new phase in Russia, Thailand

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7. ‘Crypto’ regulation enters new phase in Russia, Thailand

From Russia’s new licensing regime to Thailand’s push for regulated overseas derivatives and the G20’s renewed focus on global standards, policymakers are moving toward clearer and largely supportive rules for digital assets.

The global regulatory landscape for digital assets continues to take shape, this week with Russia’s first comprehensive legal framework for digital assets coming into effect—bringing exchanges, brokers, custodians, and other market participants under a formal regulatory regime—just as Thailand’s regulator proposed rules that would broaden access to overseas digital-asset derivatives while imposing safeguards based on product risk and investor type.

At the same time, on the global stage, G20 finance ministers and central bank governors reaffirmed the need for clear regulatory and supervisory frameworks that support digital-asset innovation while protecting financial stability and strengthening anti-money laundering (AML) and counter-terrorist financing (CTF) measures.

Russia’s new crypto framework

Russia’s first comprehensive legal framework for governing digital asset markets came into effect on September 1, bringing a range of new obligations and protections for the sector, including a licensing regime and rules for the operation of digital asset exchanges, digital depositories, and market participants.