Russia’s State Duma is moving toward final votes on a major crypto bill that would classify digital assets as property, set investor limits, and allow companies to use crypto for foreign trade.
Russia Crypto Bill Heads to Final Readings
Russia’s State Duma plans to hold the second and third readings of draft bill No. 1194918-8 on Tuesday, July 21. The bill, titled “On Digital Currency and Digital Rights,” would create a formal legal framework for digital assets across the country.
The official legislative record lists the bill as recommended for adoption in its second reading on July 16. Lawmakers are now preparing to review the remaining stages before the proposal can move further through the approval process.
Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, confirmed the planned schedule. He said, “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.”
The bill would not become final law immediately after approval by the State Duma. Further approvals would still be required before the rules can take effect nationwide.
Bitcoin Property Rules Keep Domestic Payment Ban
The Russia crypto bill would classify Bitcoin and other cryptocurrencies as property. That structure would give digital assets clearer legal status while keeping restrictions on domestic crypto payments.
Russian residents would still be barred from using crypto to pay for goods and services inside the country. The bill treats digital assets mainly as investment instruments and tools for approved international transactions.
Non-qualified investors would face an annual crypto purchase cap of 300,000 rubles, or about $3,800, through one regulated intermediary. Transfers abroad would have a separate proposed limit of 100,000 rubles.
Qualified investors would receive higher limits under the latest version. They could buy up to 3 million rubles in crypto and transfer up to 1 million rubles abroad.
The framework would also require certain retail users to pass a test before trading. Licensed exchanges, brokers, and other approved intermediaries would operate under Bank of Russia oversight.
Lawmakers also changed parts of the bill during review. A proposed rule requiring crypto holders to disclose wallet addresses was removed, while reporting would focus on balances and transaction volumes.
Foreign Trade Use Becomes Key Focus
The bill would allow Russian companies to use digital currencies for foreign economic activity. That provision is designed for cross-border trade, while domestic payments remain restricted.
Aksakov said businesses supplying goods to Russia should use crypto “without excessive legislative and legal restrictions.” Foreign trade participants would therefore have more room than ordinary investors under the proposed system.
Russia has already tested crypto for international settlements through an experimental legal regime. The proposed law would move that activity toward a broader regulatory structure if the bill completes the process.
The main provisions are expected to take effect on September 1, 2026, if lawmakers complete the required steps. The date was delayed from earlier plans because officials needed more time to coordinate amendments.
The Russian debate comes as other major economies move on crypto rules. Japan passed amendments on July 15 that reclassify cryptocurrencies as financial assets, while the United States continues Senate talks on the CLARITY Act.
Source: X
Patrick Witt, executive director of the President’s Council of Advisers for Digital Assets, recently warned that delay could weaken U.S. leadership. He said, “The world won’t wait on America forever.”
