Russia’s State Duma Set to Finalize Crypto Regulation This Week 

• Russia’s new crypto regulation bill will reach the State Duma this week.
• The bill includes trading, licensing, and investment rules in the country.
• If approved, the proposal is expected to become effective on September 1. 

Russia is now officially moving closer to launching its comprehensive crypto regulation bill. The country’s parliament, the State Duma, will reportedly hold the final readings of the crypto licensing bill this week. This brings the legislation nearer to becoming a law.

As per reports, the proposed crypto regulation bill includes comprehensive rules for crypto trading, licensing, and investments in Russia. The bill introduces clear distinctions in investment limits for retail and qualified investors. Although the bill is expected to bring long-awaited clarity to the country’s crypto market, it continues to ban the use of digital assets for everyday domestic payments.

Russia’s New Crypto Regulation Includes Licensing Rules

The official State Duma legislative record reveals that the crypto bill called “On Digital Currency and Digital Rights” has reached Russia’s State Duma for final approval. State Duma Committee on Financial Markets Chairman Anatoly Aksakov confirmed,

<blockquotes> “And tomorrow, July 21, we will adopt the law in the second and third readings, aimed at creating legal conditions for the functioning of cryptocurrencies in our country.” </blockquote>

The new crypto regulation bill, which is now closer to its final approval, brings the digital asset industry under the supervision of the Bank of Russia. The bank officially classifies cryptocurrencies as property. Thus, crypto exchanges and related platforms are required to operate under a licensing framework.

Crypto Payment Ban and Investor Limit

According to the bill, Russian traders can buy, sell, and hold cryptocurrencies. But they cannot use these assets as a mode of payment for everyday purchases within the country. Despite this restriction, the crypto regulation bill allows them to use digital assets for approved cross-border transactions through a regulated medium.

In addition, the bill has also separate rules for retail and professional investors. As per the new crypto regulation, non-qualified investors can make yearly crypto purchases worth up to 300,000 rubles, equivalent to $4,000. At the same time, qualified investors would have no investment limits, depending upon the final version of the bill.

Earlier this month, the Financial Market Committee approved the latest version of the month. If the lawmakers pass the bill this week, the crypto regulation is expected to take effect on September 1, 2026. Also, unlicensed crypto firms may face a complete ban starting from July 17.

Russia Revises Crypto Bill Ahead of Final Passage

Notably, the current crypto regulation bill is the revised version, which includes several key changes. During its first reading, the lawmakers passed it with strong support. The bill reached the Financial Markets Committee with a certain revision.

Significantly, the updated crypto bill does not have the earlier standards of wallet address disclosure. Crypto holders do not need to reveal their wallet addresses, but need to report balances and transaction volumes. The revised crypto regulation also allows investors to use digital assets to buy certain Russian securities and digital financial assets.  

However, the bill has not passed its second reading in the State Duma. For its final passage, it must clear the remaining two parliamentary readings. The bill should also receive final approval from the Federation Council, with the President ultimately signing it into law.

Related: India Moves Toward Broader Crypto Regulation Beyond Tax Rules