Russia's State Duma Approves Crypto Market Regulation Bill

Russia's State Duma approved bill No. 1194918-8, titled 'On Digital Currency and Digital Rights,' in its second and third readings on Tuesday, establishing a regulated framework for cryptocurrency market operations. The legislation creates rules for crypto exchanges, brokers, asset managers, and custodians while allowing crypto assets in foreign trade but prohibiting payments for goods and services inside Russia. The bill addresses the need for structured oversight of digital asset operations and cross-border crypto transactions within Russian jurisdiction.

Bill Establishes Regulatory Framework for Crypto Market Participants

The legislation sets requirements for companies operating in the cryptocurrency sector, including exchanges, brokers, asset managers, and custodians. According to official parliamentary records, the bill creates conditions for crypto asset operations inside the country and for cross-border trade. While the framework permits crypto assets to be used in foreign trade operations, payments for goods and services inside Russia remain prohibited under the legislation.

Implementation Timeline Set for September 2026

The main provisions of bill No. 1194918-8 are expected to take effect on Sept. 1, 2026, with a transition period extending until July 1, 2027. The legislation must still be signed by President Vladimir Putin before it becomes law. The parliamentary approval represents the completion of the second and third readings, following the schedule lawmakers established for the final votes.

State Duma Official Confirms Industry Feedback Integration

Anatoly Aksakov, chairman of the State Duma's Committee on Financial Markets, stated that lawmakers "maximally" considered industry feedback during the bill's development, according to RBC Crypto. The official's comments indicate the legislative process incorporated input from cryptocurrency market participants before the parliamentary approval.

FAQ

What did Russia's State Duma approve on Tuesday? Russia's State Duma approved bill No. 1194918-8, titled "On Digital Currency and Digital Rights," in its second and third readings on Tuesday. The legislation establishes a regulated framework for cryptocurrency market participants including exchanges, brokers, asset managers, and custodians.

When will the Russian crypto regulation bill take effect? The main provisions of the bill are expected to take effect on Sept. 1, 2026, with a transition period until July 1, 2027. The legislation must be signed by President Vladimir Putin before it becomes law.

How does the bill regulate crypto payments in Russia? The legislation allows crypto assets to be used in foreign trade operations but prohibits payments for goods and services inside Russia. The framework creates conditions for cross-border crypto trade while restricting domestic cryptocurrency transactions.