Russian State Duma Passes Crypto Regulation Bill, Allowing Cross-Border Settlements but Prohibiting Domestic Crypto Payments

Odaily Odaily reports that the Russian State Duma has completed the second and third readings of Bill No. 1194918-8 on "Digital Currency and Digital Rights" and passed it smoothly. The bill establishes a complete licensed regulatory system for the crypto market, covering crypto exchanges, brokers, asset managers, and custodians, with licenses issued and oversight conducted by the Central Bank of Russia. RIA Novosti reports.

The policy adopts a differentiated approach: it allows enterprises to use digital assets for cross-border settlements in foreign trade, but strictly prohibits the use of cryptocurrency for paying for goods and services within Russia. The core provisions of the bill are scheduled to take effect on September 1, 2026, with some supporting rules having a transition period until July 1, 2027. After passing through the State Duma process, the bill still requires review by the Federation Council and final signature by President Vladimir Putin before it can officially become federal law.