Russia's State Duma approved a crypto regulation bill requiring licensed exchanges by September 2026, with full compliance by July 2027. Foreign trade can use crypto; domestic payments remain banned.
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Russia's parliament passed a bill that sets the country's first rules for digital currency circulation, RBC reported. The legislation covers exchanges, brokers, and custodians while defining how individuals and businesses can trade crypto.
The bill, submitted by the government on April 1, passed its first reading in late April and then cleared the second and third readings. It creates five categories of licensed crypto businesses: exchanges, brokers, management firms, depositories, and exchangers. Only licensed entities can facilitate transactions. The rules also separate conditions for professional and retail investors.
The regulations take effect September 1, 2026. Firms have until July 1, 2027 to comply. After that deadline, banks must reject any crypto transactions conducted outside the approved system. Some provisions on election authorities accessing crypto data and anti-fraud measures will come into force later in 2027.
Crypto cannot be used for domestic payments. Foreign trade businesses can use digital assets for cross-border transactions, RBC said. Regulators are also developing rules on crypto taxation, liability for violations, and measures against fraudulent transactions.
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