Key facts
- Russia's State Duma passed a bill to regulate the cryptocurrency market.
- The legislation sets conditions for crypto asset operations and cross-border trade.
- Crypto assets will be allowed for foreign trade operations.
- Payments for goods and services within Russia using crypto will be prohibited.
- The bill requires President Vladimir Putin's signature to become law.
- Key provisions are set to take effect on September 1, 2026.
Russia's State Duma has approved a comprehensive bill aimed at regulating the cryptocurrency market, establishing rules for crypto asset operations both domestically and for cross-border trade. The legislation, approved in its second and third readings, creates a regulated framework for entities such as crypto exchanges, brokers, asset managers, and custodians.
While the bill permits the use of crypto assets in foreign trade operations, it maintains a prohibition on using them for payments for goods and services within Russia. The main provisions are slated to take effect on September 1, 2026, with a transition period extending until July 1, 2027. The legislation now moves to President Vladimir Putin for his signature before it can become law.
Anatoly Aksakov, chairman of the State Duma’s Committee on Financial Markets, stated that lawmakers had incorporated industry feedback to the maximum extent possible during the bill's development.