Russia's Duma Passes Crypto Bill, Sanctions Workaround Looms

The Russian Duma approved bill no. 1194918-8 on July 21, 2026, creating a legal framework for cryptocurrency exchanges, brokers, asset managers, and custodians. Non-qualified investors face an annual cap of 300,000 rubles, roughly $3,800, on crypto purchases. Qualified investors get higher limits.

The Bank of Russia now has the authority to define which assets are authorized and to issue binding regulations on market participants. The law retains a ban on using cryptocurrencies for domestic payments for goods and services. Cross-border trade settlements in crypto are permitted.

That distinction opens the door for Moscow to bypass Western financial sanctions. Digital-asset payments with trading partners such as China and Iran could move outside the SWIFT messaging system, which is largely restricted by Western sanctions in place since Russia's 2022 invasion of Ukraine.