Russia Duma Sets July 21 Vote on Crypto Bill With Investor Caps

Russia's State Duma is scheduled to hold final votes July 21 on Draft Bill No. 1194918-8, the country's broadest cryptocurrency legislation to date. The bill would classify Bitcoin and Ethereum as property under Russian law, cap annual retail purchases at 300,000 rubles, and formally authorize digital assets for international trade settlements while keeping them banned as domestic payments.

Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, said lawmakers intend to adopt the bill during its second and third readings on July 21. The framework would then move toward implementation with core provisions taking effect September 1.

The legislation gives the Bank of Russia primary supervisory authority over the market. Crypto transactions would take place through regulated intermediaries including licensed exchanges, brokers, and newly established digital asset depositories.

Aksakov said the framework seeks to balance investment access with investor protection. The bill introduces separate rules for qualified and non-qualified investors. Retail participants can only buy approved, highly liquid digital assets after completing a regulatory assessment. Annual purchases through a single intermediary cannot exceed 300,000 rubles. Transfers abroad are capped at 100,000 rubles per year.

Qualified investors face higher thresholds: annual purchase limits of 3 million rubles and outbound transfer limits of 1 million rubles. The differentiated approach reflects the Bank of Russia's preference for limiting retail exposure to higher-risk financial products.