Russia crypto bill to advance July 21, with 300k rub retail cap

The Russia crypto bill is set for a second and third reading in Russia’s State Duma on July 21, moving the draft “On Digital Currency and Digital Rights” toward final approval. If both readings are completed the same day, it can advance to the Federation Council and then be signed by President Vladimir Putin. The Russia crypto bill is expected to take effect on Sept. 1, while intermediary liability for unauthorized crypto activity is scheduled to start July 1, 2027. For traders, the key outcomes are regulatory access and compliance friction, not a direct global price driver. The bill keeps Russia’s ban on using crypto to pay for goods and services inside the country. Non-qualified retail participants would need a risk-assessment test and face an annual purchase cap of 300,000 rubles (about $3,800) via licensed intermediaries. Early retail eligibility is expected to focus on liquid assets, with officials indicating potential starting coverage for BTC, ETH and USDT, and possible expansion later. Qualified investors would face a separate test and could trade without the same transaction limits, but privacy-oriented assets that hide transfer information are expected to be excluded. Trading would run through licensed exchanges, brokers and trust managers, alongside bank/major firm preparations (e.g., crypto custody and brokerage). Overall, the Russia crypto bill likely tightens local liquidity and flows by reshaping who can access what—especially for retail—while limiting broader domestic payments use.