Russia’s lower house of parliament, the State Duma, is set to consider a long-awaited cryptocurrency regulation bill in its second and third readings. The bill, which has been in the works for months, introduces formal rules for both retail investors and cross-border crypto payments.
What the bill covers
The legislation targets two main areas: investor protections and international transfers. For investors, it lays out licensing requirements for crypto exchanges and custodians, along with disclosure obligations. On the cross-border side, the bill creates a legal framework for using digital assets in international settlements — a priority for Moscow as sanctions squeeze traditional payment channels.
Details on specific thresholds, tax rates, or which tokens would qualify remain sparse. The Duma is expected to debate those points during the second reading, where amendments can be introduced.
Timeline for passage
Second and third readings often happen in quick succession in the Russian parliament. If the bill clears both, it heads to the Federation Council for approval and then to President Vladimir Putin’s desk for signature. Lawmakers have signaled they want the law enacted before the end of 2026.
That timeline is tight but doable. The Duma’s summer recess starts in August, so the next few weeks are the window for final votes.
Russia has been cautious on crypto — banning its use for domestic payments in 2020 but allowing mining and experimental cross-border trials. This bill would be the first comprehensive regulatory framework. For exchanges and users inside Russia, it brings clarity. For foreign firms, it signals that Moscow is serious about building a legal crypto corridor, even as Western regulators tighten their own rules.
The timing isn’t accidental. With sanctions limiting access to SWIFT and dollar clearing, Russian businesses have been turning to crypto for trade settlements. Formal rules could accelerate that shift — or, if too restrictive, push activity further into the gray market.
The Duma’s vote is expected within the next two weeks.
