# Non-Western States Build Licensed Crypto Perimeters

States outside the United States and the European Union increasingly legalise crypto trading and custody through licensed, state-supervised intermediaries while keeping domestic payment bans, channelling digital-asset flows into institutions their central banks can monitor.

- Conviction: 40 / 100 (forming)
- Horizon: Emerging (watchlist)
- Tracking since: 2026-08-06T00:00:00.000Z
- Last updated: 2026-08-06T05:50:26.038Z
- Canonical: https://polylog.news/crypto/trends/non-western-crypto-perimeter-formalizes
- Publisher: Polylog
- Affected regions: India, Middle East, China

## Recent evidence

- [confirms] Putin Signs Russia's First Comprehensive Crypto Law and Keeps the Domestic Payment Ban (2026-08-06): The Russian statute creates five licensed participant categories and a digital-depository custody regime under central-bank supervision, with main provisions taking effect 1 September. The depository structure is the concrete mechanism by which flows are channelled into institutions the Bank of Russia can monitor, rather than a general legalisation.
- [confirms] Putin Signs Russia's First Comprehensive Crypto Law, Licensing Exchanges and Custodians While Keeping the Payment Ban (2026-08-06): Putin signed Russia's first comprehensive crypto law, licensing exchanges and custodians under Bank of Russia supervision with most provisions effective 1 September and an intermediary-only trading requirement from July 2027, while the domestic payment ban stays. A named major non-Western state has now converted the pattern from proposal to statute with dated compliance deadlines.