Federal Law 221-FZ – Your Guide to Russia’s Crypto Rules

When working with Federal Law 221-FZ, Russia’s legal framework that governs digital financial assets, digital currencies, and related services. Also known as Digital Financial Assets Law, it sets licensing, KYC, and AML requirements for crypto businesses operating in the country. This law defines what counts as a digital financial asset, requires service providers to obtain a special license, and places the burden of customer verification on exchanges and token issuers. In plain terms, if you want to run a crypto platform in Russia, you need to be ready for strict identity checks, reporting duties, and oversight from the Central Bank.

One of the core pillars of the law is KYC compliance, the process of verifying a user’s identity to prevent illicit activity. The rule says every crypto service must collect passport data, address proof, and sometimes even source‑of‑funds information before allowing a trade. AML, anti‑money‑laundering measures that monitor transactions for suspicious patterns works hand‑in‑hand with KYC: once a user is identified, the platform must run real‑time checks against watchlists and report large or unusual moves. This double‑layered approach not only reduces fraud but also creates a clear audit trail for regulators.

The impact of these requirements ripples through the entire crypto ecosystem. For digital financial assets, tokens that fall under the law’s definition of securities or payment instruments, issuers must publish a prospectus, undergo a registration process, and stick to capital‑raising limits. Crypto exchanges like Lifinity or PointPay, which you’ll see reviewed in our collection, need to integrate robust KYC modules and maintain a compliance team that can respond to Central Bank inquiries. Even airdrop campaigns, such as the BINO or KOM airdrops, must verify participant identities to stay on the right side of the law.

For investors, the law offers both reassurance and new hurdles. On one hand, the mandatory checks curb scams and make the market more transparent. On the other hand, getting through the verification steps can feel cumbersome, especially for users accustomed to pseudonymous trading. The good news is that many platforms are now offering streamlined onboarding – think instant ID verification via facial recognition or linked government databases – which cuts down waiting times from days to minutes. As you explore the articles below, you’ll discover practical tips on navigating KYC checks, understand how AML monitoring tools like Chainalysis are used, and see real‑world examples of how compliance shapes token launches and exchange operations.

Below you’ll find a curated set of guides, reviews, and deep‑dives that show how Federal Law 221-FZ plays out in practice. Whether you’re a trader eyeing the latest airdrop, a developer planning a token issuance, or a compliance officer mapping out licensing steps, the posts ahead give you actionable insights backed by data and real‑world cases.