Update, July 21, 2026: The State Duma passed the bill in its second and third readings on July 21. The report below was prepared ahead of the vote and explains how the proposed rules work.
Russia’s proposed cryptocurrency framework is nearing another parliamentary vote, but it is not yet law. As of July 20, 2026, bill No. 1194918-8 was listed in the State Duma’s official legislative database for a second reading on July 21. It would still need a third Duma vote, approval by the Federation Council and the president’s signature.
The government approved the package on March 30, 2026 and submitted it to parliament in early April. The proposal would bring cryptocurrency trading into a regulated system overseen by the Bank of Russia rather than make crypto legal tender.
Licensed exchanges, brokers and trust managers could handle cryptocurrency transactions, while specialist exchange and custody businesses would face separate requirements. The Bank of Russia’s framework says digital currencies and stablecoins could be bought and sold, but not used to pay for goods or services inside Russia.
Foreign trade would remain a separate use case. Russia already permits digital currency in some cross-border contracts through an experimental legal regime. According to Interfax’s review of the revised bill, the text also provides exceptions for payments connected to foreign-trade contracts within its controls against unauthorized crypto activity.
Russian banks are already positioning for the regulated market. Sberbank, for instance, plans a crypto wallet launch by December 2026, while Alfa-Bank has proposed a crypto custody service.
Non-qualified investors would first need to pass a risk test and could buy only cryptocurrencies meeting liquidity criteria. Purchases would be limited to 300,000 ruble per year through one intermediary (around $3,870).
The wording remains important. The central bank describes the ceiling as applying “via one intermediary,” but its public framework does not explain whether purchases made through several licensed firms would be combined. The final law or implementing rules must clarify whether the cap is per intermediary or per investor across the whole market.
Qualified investors would have broader access. After passing a risk test, they could buy cryptocurrencies without a general transaction limit, except for anonymous assets designed to conceal transfers. Some coverage has reported a ₽3 million annual cap for this group, but the central bank’s official framework contains no such ceiling.
The bill is sometimes described as Russia’s first recognition of cryptocurrency as property. That overstates the change. On February 10, 2026, the Duma approved separate legislation treating digital currency as property under criminal and criminal-procedure rules, including procedures for freezing and seizing it during investigations.
The new framework goes further by extending property recognition and judicial protection into the civil market, but it builds on that earlier foundation rather than creating cryptocurrency property rights from nothing.
With the Duma’s second and third readings complete, the bill moves to the Federation Council and then to the president for signature. The law is scheduled to take effect on September 1, 2026, with some provisions phased in later. Controls requiring residents to use authorized intermediaries, along with measures targeting the illegal crypto market, are expected to apply from July 1, 2027.
Until the final text is signed and published, the ₽300,000 limit, eligible assets and reporting procedures remain adopted provisions awaiting entry into force rather than obligations already binding today.
Source review: Checked on July 20, 2026 against the State Duma database, the Bank of Russia, the Russian Government and Interfax’s review of the revised bill. Updated July 21, 2026 following the Duma vote.
This article is provided for informational purposes only and does not constitute financial, investment or legal advice.
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