Russia is now much closer to passing its first big cryptocurrency law after the State Duma approved the second and third reviews of the “On Digital Currency and Digital Rights” bill.
The new law sets rules for cryptocurrency trading, investor participation, exchanges, and payments across borders, but still bans using crypto for payments inside Russia. he Federation Council will review the bill next, and then it will go to President Vladimir Putin for approval. If approved in both the stages, the law will come into force from September 1.
Russia’s First Comprehensive Crypto Law Is Two Votes Away From Passinghttps://t.co/VHz34L4AfO
— Decrypt (@DecryptMedia) July 20, 2026
In the State Duma, Russia’s lower house of parliament, the second and third reviews are the final steps for a bill. The second and third reviews are the last steps for a bill in the State Duma, Russia’s lower house of parliament. If the committee has already resolved its primary issues, lawmakers often accept both reviews on the same day.
A major change in the bill is that cryptocurrencies will now be officially recognized as a kind of property. This gives people who own digital assets better legal protection and puts the crypto industry under government control. The law also creates a licensing system for crypto exchanges, brokers, and custodians, with the Bank of Russia as the main regulator.
The law also clearly separates qualified and non-qualified investors. Regular investors can only buy certain easy-to-sell 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 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 payments across borders, so Russian businesses can pay foreign partners with digital assets.
Many see this as a way to depend less on traditional international payment systems that are affected by Western sanctions.
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