Russia's State Duma will hold final readings on a sweeping crypto regulation bill this Tuesday, July 21. The legislation introduces licensing requirements for crypto firms, caps on retail investor participation, and new rules for cross-border crypto payments. If passed, it would mark one of the most comprehensive regulatory frameworks for digital assets in the country.
Licensing and investor caps
The bill would require crypto exchanges, wallet providers, and other service operators to obtain a license from Russian authorities. Retail investors would face limits on how much they can put into crypto — likely tied to their income or net worth, though the exact thresholds aren't specified in the public text. The caps aim to curb speculative losses among everyday Russians, a concern regulators have flagged repeatedly.
Cross-border payment rules
Another key piece: new rules for cross-border crypto payments. The bill lays out how businesses and individuals can use digital assets for international transactions. That's a sensitive area for Moscow, which has faced increasing pressure from Western sanctions. The rules could give Russian entities a legal channel for moving value across borders — but also impose reporting requirements to prevent illicit flows.
What happens after the vote
The State Duma is scheduled to vote on Tuesday. If the bill clears final readings, it heads to the Federation Council, the upper house, and then to President Vladimir Putin for signature. The timeline for implementation after that isn't clear yet — the bill doesn't set a specific effective date. But once signed, firms will likely get a grace period to apply for licenses and adjust to the new caps.
