Russia's State Duma has passed a comprehensive cryptocurrency regulation bill in its first reading, establishing the nation's first formal framework for digital asset oversight. The legislation classifies cryptocurrency as property, providing legal protection in cases of bankruptcy and divorce. Non-qualified investors will be subject to annual purchase limits of approximately $3,900, while professional participants face no such restrictions.
The bill permits cross-border crypto transactions for foreign trade, allowing Russian companies to pay international counterparties and circumvent sanctions. Domestic cryptocurrency payments remain prohibited, with the ruble maintaining its status as Russia's sole legal settlement currency.
The Bank of Russia is designated as the licensing authority for crypto market participants. This new regulatory framework is slated to take effect on July 1, 2026, pending further legislative approvals.
The provisions for international trade transactions offer an alternative payment mechanism outside traditional banking systems, which have been restricted for Russian entities following the invasion of Ukraine.
This move marks Russia's most significant effort to formalize digital asset regulation, balancing integration with state control over monetary policy. The country previously banned crypto payments in 2020 but allowed digital asset ownership, gradually opening pathways for institutional and cross-border use amid Western sanctions.