The State Duma of Russia is set to conduct a final review of its cryptocurrency bill, with plans to establish a regulated trading framework.

Russia’s State Duma is scheduled to hold the second and third readings of its cryptocurrency bill this Tuesday. The legislation, numbered 1194918-8 and titled the “Digital Currency and Digital Rights Law”, will see its core provisions take effect on September 1 if passed. The bill aims to establish a clear legal framework for crypto activities in Russia, focusing on investor limits, transaction regulation, and the use of digital assets in cross-border trade. Under the draft, non-qualified investors face an annual cap of 300,000 rubles (around $3,800) for crypto purchases via a single intermediary, with a cross-border transfer limit of 100,000 rubles. Qualified investors will have higher thresholds: 3 million rubles annually for purchases, and a 1 million ruble cross-border transfer cap. Crypto trading platforms and related intermediaries will be required to verify investor identities, monitor purchase volumes and cross-border transfers, and enforce tiered limits based on investor classification. Anatoly Aksakov, chairman of the State Duma’s Financial Market Committee, stated that the bill will create legal conditions for businesses to use crypto assets for trade settlements, allowing relevant enterprises to utilize digital assets “without excessive legal restrictions”. Analysts note that Russia’s regulatory approach here is not opening the crypto market, but bringing crypto assets under state control via investment limits and intermediary oversight. The policy may boost crypto asset adoption in cross-border trade, payment infrastructure and institutional investment, though enterprises will still face challenges including sanctions risks, liquidity concerns, tax obligations and compliance issues.