Russia's State Duma Passes Landmark Crypto Law, Sets September 1 Implementation

According to Tass, on Tuesday, July 21, Russia's State Duma passed Bill No. 1194918-8, "On Digital Currency and Digital Rights," in its second and third readings, marking the first comprehensive regulation of crypto and digital rights in the country. The measure heads to the Federation Council and President Vladimir Putin for signature, with implementation expected on September 1, 2026.

The law recognizes digital assets as property, licenses crypto exchanges, brokers, depositories, and exchangers, and permits cross-border settlement of foreign trade in crypto outside traditional banking channels. Retail investors may purchase up to 300,000 rubles of cryptocurrency annually, while qualified investors can buy up to 3 million rubles. Privacy coins remain barred, and large foreign transfers face a 48-hour hold for regulatory review.