Russia is now much closer to passing its first major cryptocurrency law after the State Duma approved the second and third readings of the “On Digital Currency and Digital Rights” bill.
The new law sets rules for cryptocurrency trading, investor involvement, exchanges, and cross-border payments, but still bans using crypto for payments within Russia. Next, the bill goes to the Federation Council and then to President Vladimir Putin for approval. If it passes, the law should take effect on September 1, which would be a big step in Russia’s plan to regulate digital assets and use them more in international trade.
Russia’s First Comprehensive Crypto Law Is Two Votes Away From Passinghttps://t.co/VHz34L4AfO
— Decrypt (@DecryptMedia) July 20, 2026
The bill, registered as No. 1194918-8, was introduced by the Russian government on April 1, 2026. Its goal is to end years of legal uncertainty about cryptocurrencies by setting clear rules for trading, storing, and using digital assets in Russia.
The second and third readings are the last steps for a bill in the State Duma, Russia’s lower house of parliament. Lawmakers often pass both readings on the same day if they have already settled the main issues in committee. The bill still needs approval from the Federation Council, the upper house, before going to President Vladimir Putin for final approval.
Anatoly Aksakov, who leads the State Duma Committee on Financial Markets, said the law aims to set up the legal conditions needed for cryptocurrencies to work in Russia. The original goal was to pass the bill by July 1, but coordination between government agencies caused delays.
A major change in the bill is that cryptocurrencies will now be officially recognized as a type of property. This gives people who own digital assets better legal protection and puts the crypto industry under government supervision. The law also sets up a licensing system for crypto exchanges, brokers, and custodians, with the Bank of Russia as the main regulator.
The law also makes a clear difference between qualified and non-qualified investors. Regular investors can only buy certain liquid cryptocurrencies after passing a required knowledge test. They will also have a yearly investment limit of 300,000 rubles with each licensed provider. Qualified investors, who meet higher financial or professional standards, will have fewer limits.
Not all cryptocurrencies will be allowed for legal trading. The rules say that eligible cryptocurrencies must have a market value over 5 trillion rubles and at least five years of proven trading history on a licensed foreign exchange. Right now, Bitcoin and Ethereum are expected to qualify, and other big cryptocurrencies like Solana and TON might also be included. Privacy coins like Monero, Zcash, and Dash will still be banned because they do not meet Russia’s anti-money laundering rules.
The bill keeps Russia’s ban on using cryptocurrencies for payments inside the country. People still cannot buy goods or services with Bitcoin or other digital assets in Russia. However, the law will let companies use cryptocurrencies for cross-border payments, so Russian businesses can pay foreign partners with digital assets. Many see this as a way to rely less on traditional international payment systems that are affected by Western sanctions.
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment