Russian Parliament Passes Bill to Regulate Crypto Market

Russia’s State Duma has approved legislation establishing a formal regulatory framework for the country’s cryptocurrency market, covering both domestic operations and cross-border trade.

Bill Clears Final Votes

Lawmakers passed bill No. 1194918-8, titled “On Digital Currency and Digital Rights,” in its second and third readings on Tuesday, according to official parliamentary records. The vote had been anticipated after lawmakers scheduled the final readings earlier this month.

The bill sets out rules for crypto market participants, including exchanges, brokers, asset managers and custodians, and establishes operating requirements for companies working in the sector. Under the new framework, crypto assets would be permitted for use in foreign trade transactions, though using them to pay for goods and services within Russia would remain banned. The law’s core provisions are set to take effect on September 1, 2026, followed by a transition period running until July 1, 2027.

Next Steps Before It Becomes Law

The bill still requires the signature of President Vladimir Putin before it can take effect. Anatoly Aksakov, who chairs the State Duma’s Committee on Financial Markets, said lawmakers took industry feedback into account as much as possible while drafting the legislation.