The Russian parliament passes a cryptocurrency market regulation bill

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Cointelegraph reports that on July 21, the Russian State Duma has approved a bill to establish regulatory rules for the cryptocurrency market, setting a legal framework for the operation of crypto assets within Russia 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 and formally passed the bill numbered 1194918-8, titled “Digital Currency and Digital Rights Law.” Previously, the legislature had scheduled a final vote in line with the plan. The bill establishes a regulatory framework for participants in the crypto market, covering crypto trading platforms, brokers, asset management institutions, and custodians, and it sets compliance requirements for the operations of relevant entities. Under the provisions of the bill: the use of crypto assets for settling external trade (cross-border trade) is allowed; but payments for goods and services within Russia still remain prohibited from using cryptocurrencies. The main provisions of the bill are expected to officially take effect on September 1, 2026, and include a transition period lasting until July 1, 2027. However, the bill still needs to be signed by Russian President Vladimir Putin before it can officially become law.
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