Russia's State Duma Approves Cryptocurrency Market Regulation Bill
AI Market Summary
Russia's State Duma passed a bill creating a legal framework for crypto market participants and permitting crypto use in cross-border trade, while keeping domestic payments for goods and services prohibited. The law's provisions are slated to begin September 1, 2026, pending President Putin's signature, with a transition through July 1, 2027. The news marginally improves regulatory clarity but with delayed implementation and limited onshore utility.
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Russia's lower house of parliament, the State Duma, has passed legislation aimed at formalizing oversight of the country's cryptocurrency market and setting rules for the use of digital assets in cross-border trade.
According to the Duma's official records, lawmakers on July 21 completed the second and third readings of Bill No. 11949188, titled "On Digital Currencies and Digital Rights," and adopted it on Tuesday, following a previously scheduled final vote.
The bill lays out a regulatory framework for crypto-market participants, including cryptocurrency exchanges, brokers, asset management firms and custodians, and introduces compliance requirements for related operations.
Under the legislation, cryptocurrency assets may be used in foreign trade and other cross-border transactions. Use of cryptocurrencies to pay for goods and services inside Russia remains banned.
The main provisions are expected to take effect on Sept. 1, 2026, with a transition period running through July 1, 2027. The bill still requires the signature of President Vladimir Putin to become law.
