Russia Crypto Bill Clears First Reading for July 1, 2026

Russia crypto bill advanced in the State Duma and is set for a regulated rollout from July 1, 2026. In the first reading, lawmakers voted in favor of the draft “On Digital Currency and Digital Rights,” introduced in December 2025. It must still pass second and third readings, then be reviewed by the Federation Council and signed by the president. Key market provisions for traders: the bill treats digital assets as “property” and strengthens legal protections in court. It gives the Central Bank of Russia (CBR) power to license and oversee market participants, limiting activity largely to approved professional participants. Unlicensed “underground” exchanges and brokers could face blocking and serious financial risks. Mining is also legalized under conditions tied to Russian infrastructure and reporting of equipment and output. Cross-border structure: Russia would ban using crypto for domestic payments (goods, services, or labor), but allow crypto for cross-border settlements—positioned as an alternative payment channel outside traditional banking and a way for firms to bypass sanctions constraints. Access is tiered to cap retail exposure: non-qualified investors may buy up to 300,000 rubles per year (after a knowledge test) in liquid cryptocurrencies, while qualified investors can buy without such a cap. Trading takeaway: this Russia crypto bill improves legal clarity (property rights and court defense) but constrains domestic use, which could shift liquidity and demand toward sanctioned cross-border settlement flows rather than retail consumption.