Russia crypto regulation will reach a key stage on Tuesday, July 21, when the State Duma is expected to hold the bill’s second and third readings. A State Duma committee recommended the bill for its second reading on July 16.
The officially registered bill has a bill number 1194918-8. The name of the bill is “Digital Currency and Digital Rights.” It establishes regulations for cryptocurrency trade, investor access, and foreign dealings.
Anatoly Aksakov chairs the State Duma Financial Markets Committee. He confirmed both remaining readings for July 21. The bill remains under consideration before those votes.
“And tomorrow, July 21, we will adopt the law in the second and third readings, aimed at creating legal conditions for the functioning of cryptocurrencies in our country,” Aksakov said
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Russia Crypto Regulation Tightens Retail and Transfer Limits
Russia crypto regulation would impose tighter retail limits. Non-qualified investors could buy up to 300,000 rubles in crypto each year. The cap equals about $3,800 and would apply through one regulated intermediary.
A separate ceiling would cover overseas transfers for investors. Non-qualified investors would be restricted to sending no more than 100,000 rubles abroad per year. Transactions and foreign transfers would be considered two different activities.
The qualified investors would have increased ceilings under the draft bill. They would be allowed to purchase no more than 3 million rubles worth of cryptocurrencies per year. The limit on their foreign transfers would rise to 1 million rubles.
Licensed exchanges, brokers, and intermediary services would be responsible for regulated transactions. The Russian central bank would monitor licensed companies. The system would shift trading from unlicensed channels.
The draft law was passed at the first reading in April. The bill had provisions on limiting ordinary investors’ annual transactions to 300,000 rubles. It described the licensing requirements for market players.
The bill was amended while passing through the parliament. Lawmakers removed the provision on disclosing wallet addresses in July.
Who Benefits From Russia’s Crypto Trade Rules
Russia crypto regulation will apply to assets used in foreign trade. According to Aksakov, providers for Russian clients need to use cryptocurrency but without too many legal restrictions. Exporters and importers will have more opportunities than retail investors.
Participants in foreign trade operations will be subject to fewer restrictions. Companies may use digital assets in cross-border transactions under legal regulations. The bill separates business activities from ordinary investment.
Russia has already permitted the use of cryptocurrencies in international settlements under an experimental scheme. Selected companies can use digital assets in foreign trade operations, and the authorities are testing this model before permanent regulation is established.
The main provisions of Russia crypto regulations will enter into force on September 1, 2026. This date depends on the accomplishment of the procedure of approval. Passage of the bill through the State Duma does not mean its enactment yet.
What Drives Russia’s Push for Crypto Regulation
Russia crypto regulation have been evolving for several years through policy-making. Issues of trading access, licensing, limitations on investments, and payments have been discussed by the authorities. The present bill consolidates all these aspects into a single framework.
Finance Ministry estimates reported in February showed that domestic daily crypto trading reached almost 50 billion rubles, which was approximately $640 million. The majority of such transactions were performed off the record.
The votes of July 21 may bring Russia crypto regulations closer to their implementation. However, lawmakers still have to pass all the necessary procedures to make the legislation operational.
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