Russia State Duma to vote on crypto bill July 21, sets investor limits

Russia's State Duma is scheduled to hold the second and third readings of its main crypto regulation bill on Tuesday, July 21. The legislation, draft bill No. 1194918-8, would create the country's first formal legal framework for digital assets, covering trading, investor access and cross-border transactions.

Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, confirmed the timeline. "Tomorrow, July 21, we will adopt the law in the second and third readings, aimed at creating legal conditions for the functioning of cryptocurrencies in our country," Aksakov said, according to a report first carried by crypto.news.

The bill introduces tiered investor limits. Non-qualified investors would face an annual crypto purchase cap of 300,000 rubles, roughly $3,800, through a single regulated intermediary. Transfers abroad would have a separate limit of 100,000 rubles. Qualified investors could purchase up to 3 million rubles in crypto and transfer up to 1 million rubles abroad, Aksakov's latest comments show.

Licensed exchanges, brokers and other intermediaries would operate under Bank of Russia oversight. The proposed framework would separate crypto investment from domestic payments. Russia maintains restrictions on using cryptocurrency for goods and services inside the country. The rules instead treat digital assets mainly as investment instruments and tools for certain international transactions.

The bill has changed since its first reading in April. Lawmakers removed a proposed requirement for crypto holders to disclose their wallet addresses. The revised version focuses on information such as balances and transaction volumes. It also introduces measures that could require certain large transfers to foreign or third-party accounts to remain on hold for up to 48 hours.

Companies involved in international trade would face fewer restrictions than ordinary investors. Aksakov said businesses supplying goods to Russia should be able to use crypto "without excessive legislative and legal restrictions." Russia has already been expanding its use of digital assets for international settlements. An experimental legal regime allows some companies to use cryptocurrency in foreign trade while the government develops permanent rules.

Lawmakers are also working on a separate stablecoin framework focused on international payments, crypto.news reported earlier this year.

Outside Russia, scrutiny of crypto payment networks linked to Russian entities has increased. The European Union and United Kingdom have targeted platforms accused of helping sanctioned Russian entities move funds. In June, the EU considered broader restrictions on foreign crypto services tied to Russian entities.

The main provisions of the proposed law are expected to take effect on Sept. 1, 2026, if the remaining approval steps are completed. That date represents a delay from earlier plans. The government initially targeted July for the new framework, lawmakers needed more time to process amendments and coordinate the wider regulatory package. Aksakov previously said the timeline had shifted because of prolonged coordination between government agencies.

Finance Ministry estimates cited by crypto.news in February placed domestic crypto trading volume at about 50 billion rubles, or roughly $640 million, per day, much of it outside regulated channels.

The State Duma's vote on Tuesday will determine the final text of the bill. If approved, it will move to the Federation Council and then to the president for signature. The bill in its second and third readings represents the next legislative step for Russia's wider crypto market framework.