Russia's Duma to hold final vote on crypto regulation bill

Russia's lower house of parliament is scheduled to hold final votes on Tuesday, July 21, 2026, on a comprehensive bill to regulate digital currencies, a move that would establish the country's first formal legal framework for the cryptocurrency market. The legislation, known as bill No. 11949188 "On Digital Currency and Digital Rights," is set for its second and third readings in the State Duma, bringing it closer to enactment after the government approved the package in March and an initial parliamentary vote in April.

The proposed framework creates a licensing system overseen by the Bank of Russia for intermediaries such as exchanges and brokers. It formally recognizes digital currencies as property rights but maintains a strict ban on their use for domestic payments for goods and services within Russia. Instead, the legislation is designed to facilitate cryptocurrency for investment and, critically, for cross-border transactions, particularly in international trade.

A central feature of the bill is a two-tier system for investors. Non-qualified, or retail, investors would face annual purchase limits of 300,000 rubles through a single licensed intermediary, with international...