Wu Shuo learned that on July 21, the Russian State Duma passed, in its second and third readings, Bill No. 1194918-8 titled the “Digital Currency and Digital Rights” law. The bill is set to establish a licensed regulatory framework covering crypto trading platforms, brokers, asset management institutions, and custody institutions, and it sets operational requirements for relevant companies. The bill allows digital assets to be used for foreign trade, but it still prohibits their use within Russia to make payments for goods and services. The main provisions of the bill are expected to take effect on September 1, 2026, with some rules setting a transition period until July 1, 2027. After the bill is passed by the State Duma, it still needs to be reviewed by the Federation Council of Russia and signed by President Vladimir Putin before it can officially become law.