The Russian State Duma (State Duma) is expected to conduct the second and third readings of the bill “On Digital Currency and Digital Rights” numbered No. 1194918-8 at 21 July local time; if passed, the bill’s key provisions will take effect on September 1. The bill will provide a legal basis for settling cross-border crypto trade, with an annual limit for non-qualified investors to buy cryptocurrency through a single intermediary of 300,000 rubles.
Russia’s Duma enters final review, with key provisions set to take effect on September 1
The final review of the bill “On Digital Currency and Digital Rights” numbered No. 1194918-8 is expected to be held on July 21, 2026 (Tuesday), including both second and third readings. If the bill is passed smoothly, its main provisions will officially take effect on September 1, 2026.
According to FinanceFeeds, Russia’s State Duma is preparing to make a breakthrough on its long-debated cryptocurrency regulatory issue, replacing the past policy vacuum with a pragmatic regulatory framework, and positioning cross-border settlement as the core focus.
Legal authorization for cross-border settlement: Aksakov’s remarks and the sanctions backdrop
Anatoly Aksakov, chair of the State Duma’s Committee on Financial Markets, said the bill will create clear legal conditions for the use of cryptocurrencies within Russia, allowing companies that supply goods to Russia to use crypto assets for cross-border settlements “without excessive legislative and legal restrictions.” This framing reflects Russia’s policy considerations under intense international financial sanctions pressure, using crypto assets as an alternative channel for trade settlement.
The bill’s cross-border application is the most commercially meaningful provision: lawmakers are trying to reduce legal uncertainty for trade participants in digital-asset settlement, supporting the circulation of trade under current external financial constraints.
Investor tiering caps: the difference between 300,000 rubles per year for retail investors and 3 million rubles for qualified investors
The bill sets clear annual purchase and transfer caps for non-qualified investors (general retail investors) and qualified investors:
Non-qualified investors (retail): annual cryptocurrency purchase limit of 300,000 rubles (about $3,800) through a single intermediary; the funds cap for transfers to overseas jurisdictions is 100,000 rubles
Qualified investors: annual purchase limit of 3 million rubles; the funds cap for transfers to overseas jurisdictions is 1 million rubles
Regulated exchanges and intermediaries will bear compliance obligations to verify investors’ identities, monitor annual purchase volumes, and track overseas transfers. This tiering mechanism shows lawmakers are trying to control the extent of retail investors’ exposure while allowing them to participate, and to leave more operational room for qualified investors.
Digital ruble rollout in parallel: a two-track September plan and Russia’s digital finance policy layout
The timeline for advancing the cryptocurrency bill aligns with Russia’s plan to launch the Digital Ruble nationwide in September 2026, and the two statutory digital finance policy measures are expected to roll out in parallel in the same month. This timing arrangement reflects that Russia is trying to strike a balance between protecting retail investors and supporting cross-border trade, gradually building a digital finance regulatory framework that distinguishes regulated crypto activities (conducted through intermediaries) from P2P and DeFi market trading that is harder to monitor.
The main challenge at the implementation level remains how to effectively monitor transfer restrictions among offshore platforms and decentralized markets; the bill’s effectiveness will depend on how intermediaries are licensed and how reporting obligations are defined.
Frequently Asked Questions
When will Russia’s No. 1194918-8 bill be voted on, and when will its key provisions take effect?
Russia’s State Duma is expected to conduct the second and third readings (final review) of the bill “On Digital Currency and Digital Rights” (No. 1194918-8) on July 21, 2026 (Tuesday); if passed, the key provisions are expected to officially take effect on September 1, 2026, subject to the official final announcement.
What is the annual cryptocurrency purchase cap for retail investors in Russia?
Under the bill, the annual purchase limit for non-qualified investors (general retail investors) to buy cryptocurrency through a single intermediary is 300,000 rubles (about $3,800), and the funds cap for transfers to overseas jurisdictions is 100,000 rubles. The annual purchase cap for qualified investors is loosened to 3 million rubles, with an overseas transfer cap of 1 million rubles.
Why is this bill positioned as a cross-border trade tool rather than general cryptocurrency regulation?
Aksakov, chair of the State Duma’s Committee on Financial Markets, said the bill is intended to allow companies that supply goods to Russia to use crypto assets for cross-border settlement “without excessive legal restrictions.” Under international financial sanctions limits, crypto assets have been included in policy discussions supporting Russia’s trade settlement, which is the backdrop for the bill’s core positioning around cross-border commercial applications.
