Russia’s Duma to Approve full Crypto Regulation Bill Tuesday

Russia’s State Duma plans to finalize a broad cryptocurrency regulation bill on July 21, establishing a licensing system and investor limits while enabling cross-border payments amid ongoing sanctions.

Details of the Legislation

The bill, named «On Digital Currency and Digital Rights» (No. 1194918-8), creates a framework managed by the Bank of Russia. It classifies digital assets as property rights and prohibits their use for domestic payments. However, residents can hold and trade crypto, and use it for cross-border transactions through licensed platforms.

Investor protection divides participants into qualified and non-qualified categories. Non-qualified investors will have annual purchase limits of about 300,000 rubles, roughly $4,000, while qualified investors face no such restrictions. Licensed exchanges may also act as tax agents, withholding income tax from crypto investors automatically.

The Financial Market Committee approved the bill on July 8, moving it to final readings. If passed without significant changes, key rules will start on September 1, 2026. Platforms operating without licenses could be banned by July 2027.

Sanctions and Financial Infrastructure

Western sanctions have cut Russia’s access to traditional financial systems like SWIFT, complicating international payments. By legalizing regulated crypto cross-border transfers, Russia aims to build an alternative financial channel. The bill does not specify any cryptocurrencies, suggesting a flexible approach to accommodate assets useful for international trade.

According to the draft, a related measure (No. 1194929-8) will complement the main bill, indicating a broader regulatory design.

Despite the new framework, the ban on using crypto for domestic payments limits everyday adoption within Russia. Trading and international uses can expand, but daily retail use remains restricted.

The bill’s implementation from September will be closely watched by investors and traders, with the July 2027 deadline for unlicensed platforms marking a critical enforcement point.