Russia's State Duma Approves Crypto Law for International Trade

Russia’s lower house of parliament approved the “On Digital Currency and Digital Rights” bill in its second and third readings on 21 July 2026. The legislation classifies cryptocurrencies as property under civil law, grants legal ownership rights, and creates a state‑controlled licensing regime overseen by the Bank of Russia. It authorises the use of approved digital assets for cross‑border trade, allowing companies to settle foreign transactions outside the SWIFT system, while domestic crypto payments remain prohibited.

The law sets annual purchase caps for retail investors at 300,000 roubles (≈ $3,800) through a single licensed intermediary, with higher limits for qualified investors (up to 3 million roubles). International transfer limits are 100,000 roubles for non‑qualified and 1 million roubles for qualified investors. Privacy‑focused coins such as Monero are excluded. Licensed exchanges, brokers, custodians, asset managers and exchangers must meet a minimum capital of 15 million roubles and register with the central bank; existing operators have a transition period until 1 July 2027. The bill will take effect on 1 September 2026 pending President Vladimir Putin’s signature, aiming to provide a regulated channel for foreign trade while preserving the ruble as the sole legal tender within Russia.