Russian parliament passes law regulating crypto market

Russia’s State Duma has approved a bill establishing rules for the cryptocurrency market, setting conditions for crypto asset operations inside the country and for cross-border trade.

The parliament approved bill No. 1194918-8, titled “On Digital Currency and Digital Rights,” in its second and third readings on Tuesday, as expected after lawmakers scheduled the final votes, according to official parliamentary records.

The legislation creates a regulated framework for crypto market participants, including crypto exchanges, brokers, asset managers and custodians, and sets requirements for companies operating in the sector.

The legislation would allow crypto assets to be used in foreign trade operations, while payments for goods and services inside Russia would remain prohibited. Its main provisions are expected to take effect on Sept. 1, 2026, with a transition period until July 1, 2027. The bill must still be signed by President Vladimir Putin before it becomes law.

Anatoly Aksakov, chairman of the State Duma’s Committee on Financial Markets, said lawmakers “maximally” considered industry feedback during the bill’s development.