Russia drops wallet address rule in crypto bill revision

The latest draft introduces a requirement to freeze certain transfers for up to two days when they involve large amounts sent abroad or to third parties. Aksakov did not specify the threshold that would trigger the delay.

He also did not clarify whether lawmakers kept an earlier proposal that could prohibit Russians from using non-custodial cryptocurrency wallets, where only the wallet owner controls the private keys.

The bill first passed its initial reading in April, when lawmakers proposed placing the Bank of Russia in charge of licensing exchanges, brokers, and other crypto market participants. The draft classified cryptocurrency as property, giving digital assets legal protection in bankruptcy and divorce proceedings, while continuing to ban crypto payments inside Russia except for approved cross-border trade.

If the bill clears its remaining readings in the State Duma and secures approval from the Federation Council and the president, it would form the foundation of Russia’s new crypto market framework alongside the country’s digital asset initiatives.

The legislative push comes weeks before the Bank of Russia is scheduled to launch the digital ruble on Sept. 1, with major banks and large merchants set to begin supporting the central bank digital currency under a previously announced rollout plan.

For traders tracking Russian crypto policy, the key unknowns remain the non-custodial wallet stance and the exact transfer thresholds. The broader crypto market analysis will depend on how these rules interact with the digital ruble launch and international sanctions dynamics.