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Russia's Duma Set to Finalize Crypto Bill on Tuesday
The State Duma will hold second and third readings of the crypto bill on July 21. The legislation creates a licensing framework and caps retail purchases at 300,000 rubles. Implementation set for September 2026.
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Russia's State Duma is set to finalize a sweeping crypto regulation bill on Tuesday, July 21, with second and third readings of the legislation that would create a licensing framework and cap retail purchases.
The bill, formally titled "On Digital Currency and Digital Rights" (No. 1194918-8), establishes a licensing regime run by the Bank of Russia. It recognizes digital assets as property rights. The legislation maintains a strict ban on using crypto for domestic payments. You can own it and trade it. Cross-border transactions are permitted through regulated channels.
Investor protections split the market into two tiers. Non-qualified investors face annual purchase caps of roughly 300,000 rubles, about $4,000. Qualified investors have no such limits. Licensed platforms could also serve as tax agents, withholding income tax directly from crypto investors.
The Financial Market Committee approved the bill's text on July 8. Key provisions are set to take effect around September 1, 2026 if the bill passes without major amendments. Unlicensed platforms could face outright bans starting July 2027.