Russian Parliament Passes Cryptocurrency Market Regulation Bill

The Russian State Duma has approved a bill to establish regulatory rules for the cryptocurrency market, setting a legal framework for domestic crypto asset operations and the use of crypto assets in cross-border trade. According to official records from the Russian State Duma, the parliament on Tuesday completed the second and third readings of Bill No. 1194918-8, titled the "Digital Currency and Digital Rights Law," and formally passed it. The legislative body had previously scheduled the final vote as planned. The bill establishes a regulatory framework for crypto market participants, covering crypto trading platforms, brokers, asset management firms, custodians, and other entities, and sets out compliance requirements for the operations of relevant enterprises. Under the bill’s provisions: crypto assets are permitted for use in foreign trade (cross-border trade) settlements; however, the use of cryptocurrency for payments for goods and services within Russia remains prohibited. The main provisions of the bill are scheduled to take effect on September 1, 2026, with a transition period running until July 1, 2027. The bill still requires the signature of Russian President Vladimir Putin to officially become law.