The State Duma legislation creates a regulated framework for crypto market participants and now moves to President Vladimir Putin for his signature before becoming law.
Russia’s lawmakers moved the country closer to its first comprehensive crypto market framework after completing final readings on a bill that would regulate digital asset activity.
Russia’s State Duma, the lower house of parliament, approved bill No. 1194918-8, titled “On Digital Currency and Digital Rights,” in its second and third readings on Tuesday, according to official parliamentary records.
If enacted, the bill would establish rules for crypto market participants, including exchanges, brokers, asset managers and custodians, while allowing crypto assets to be used in foreign trade operations.
The vote marks Russia’s biggest legislative step toward a regulated crypto market to date, although the bill still requires approval by the Federation Council and President Vladimir Putin’s signature before it becomes law.
The bill would give the Bank of Russia broad oversight of the regulated market, including authority to determine which crypto assets may be offered through licensed intermediaries and to issue implementing regulations.
It would also establish five categories of regulated market participants — crypto exchanges, brokers, asset managers, custodians and exchange service providers — defining who can buy, sell, hold and exchange crypto assets under the new framework.
The bill introduces different rules for qualified and non-qualified investors. Non-qualified investors would face a 300,000-ruble (about $3,800) annual limit on crypto purchases through a single intermediary and a 100,000-ruble limit on transfers abroad. Qualified investors would face annual limits of 3 million rubles for purchases and 1 million rubles for transfers abroad.
The bill would continue to prohibit the use of crypto assets to pay for goods and services inside Russia. At the same time, it would allow crypto assets to be used in foreign trade operations, reflecting Russia’s broader effort to facilitate cross-border settlements outside traditional payment infrastructure.
Most of the bill’s provisions would take effect on Sept. 1, 2026, if the president signs the bill into law. Lawmakers also included a transition period through July 1, 2027, giving market participants time to comply with the new rules.
After the transition period ends, market participants would have to conduct crypto transactions through regulated organizations. Banks would also have to reject transactions that do not comply with the new framework, according to the bill.
Related: Russia’s largest private bank, Alfa-Bank, tests crypto trading
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