The crypto market entered September with new regulations and key deadlines. Russia introduced a crypto purchase limit for retail investors, while Pakistan gave companies operating in the country a final deadline to apply.
Singapore is also working on new rules for the stablecoin market. In the UK, applications for licenses under the new crypto regime will open at the end of this month.
Russia introduces annual limit on crypto purchases
Russia’s Federal Law 282-FZ, which regulates the crypto market, came into force on September 1. The new system allows retail investors to buy cryptocurrencies through licensed intermediaries.
However, investors must first pass an eligibility test. They can then purchase up to 300,000 rubles, around $3,500, worth of crypto per year through a single intermediary.
The use of cryptocurrencies as a means of payment within Russia remains prohibited. Crypto exchanges have until July 2027 to complete their registration processes.
Pakistan gives crypto firms until September 5
In Pakistan, the focus is directly on crypto companies. Under the Virtual Assets Act, which came into force in March, platforms already operating in the country were given six months to submit an application.
That deadline expires on September 5. Companies that fail to apply will be required to stop providing services in Pakistan.
The country’s regulatory approach has changed significantly in recent months. In April, the State Bank of Pakistan allowed licensed crypto companies to open bank accounts. This removed one of the restrictions that had been in place since 2018.
Singapore opens stablecoin rules for consultation
The Monetary Authority of Singapore (MAS) has published a new regulatory proposal for the stablecoin market. The framework would tighten reserve and redemption requirements for stablecoin issuers.
Under the proposal, issuers would be required to fully back their stablecoins with reserves and allow users to redeem tokens at par value. Stablecoin holders would also not be allowed to earn interest.
MAS will accept feedback on the proposal until October 16. The rules have not yet entered into force.
UK applications to open on September 30
The UK is also preparing to enter an important phase of its regulatory process at the end of September. Under the Financial Conduct Authority’s new crypto regime, companies will be able to apply for authorization starting September 30.
The application window will remain open until February 28, 2027. The new crypto regulatory regime is expected to become fully effective on October 25, 2027.
September has therefore started with new rules and regulatory deadlines affecting crypto companies and investors across several major markets.
