Russia’s State Duma plans to hold the second and third readings of its main crypto regulation bill on Tuesday, July 21, moving the country closer to a formal legal framework for digital assets.
- Russia’s State Duma will hold final crypto bill readings Tuesday, setting rules for investors nationwide.
- Non-qualified investors face annual purchase limits, while qualified investors receive much higher permitted transaction caps.
- The bill also expands legal crypto use for cross-border trade while domestic payments remain restricted.
The legislation, draft bill No. 1194918-8, is titled “On Digital Currency and Digital Rights.” The official State Duma legislative record shows that lawmakers recommended the bill for adoption in its second reading on July 16. It remains under consideration ahead of Tuesday’s scheduled votes.
Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, confirmed that lawmakers plan to consider both remaining readings on July 21.
“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, according to a report carrying comments first reported by RBC.
The legislation would establish rules for crypto trading, investor access and cross-border transactions. However, approval by the State Duma would not complete the legislative process. The bill would still require further approvals before becoming law.
Russia crypto regulation bill sets investor limits
Under the latest proposals, non-qualified investors would face an annual crypto purchase limit of 300,000 rubles, roughly $3,800, through a single regulated intermediary. Transfers abroad would carry a separate limit of 100,000 rubles.
Qualified investors would receive higher thresholds. They could purchase up to 3 million rubles in crypto and transfer up to 1 million rubles abroad under the proposed framework, according to Aksakov’s latest comments.
The limits form part of Russia’s wider effort to move crypto activity into a regulated market. Licensed exchanges, brokers and other approved intermediaries would operate under oversight from the Bank of Russia.
As crypto.news previously reported, the State Duma approved the bill in its first reading in April. The earlier version established the 300,000-ruble annual limit for non-qualified investors and outlined a licensing system for crypto market participants.
The bill has changed during its passage through parliament. In July, lawmakers removed a proposed requirement for crypto holders to disclose their wallet addresses.
The revised version instead focuses on information such as balances and transaction volumes. It also introduces measures that could require certain large transfers to foreign or third-party accounts to remain on hold for up to 48 hours.
The planned rules would continue to separate crypto investment from domestic payments. Russia has maintained restrictions on using cryptocurrency to pay for goods and services inside the country. The proposed framework instead treats digital assets mainly as investment instruments and tools for certain international transactions.
Cross-border crypto payments remain a key part of the bill
The Russia crypto regulation bill also sets rules for companies using digital assets in international trade. Aksakov said businesses involved in supplying goods to Russia should be able to use crypto “without excessive legislative and legal restrictions.”
Foreign trade participants would face fewer restrictions than ordinary investors under the proposed framework. Aksakov said companies using crypto for export and import operations would have broad room to conduct transactions within the legal system.
Russia has already been expanding its use of digital assets for international settlements. The country introduced an experimental legal regime that allows some companies to use cryptocurrency in foreign trade while the government develops permanent rules.
The proposed law would move the market toward a broader regulatory structure. As previously reported by crypto.news, the first-reading version recognized crypto as property and allowed its use in cross-border transactions while keeping the domestic payment ban.
Russia has also been developing separate rules for stablecoins. Crypto.news reported earlier this year that lawmakers were working on a dedicated stablecoin framework focused partly on international payments.
Meanwhile, scrutiny of Russia-linked crypto payment networks has increased outside the country. The European Union and United Kingdom have targeted platforms and networks accused of helping sanctioned Russian entities move funds. In June, the EU considered broader restrictions on foreign crypto services linked to Russian entities.
September 1 remains the target for the new framework
The main provisions of the proposed Russian crypto law are now expected to take effect on Sept. 1, 2026, if lawmakers complete the required approval process.
That date represents a delay from earlier plans. The government initially targeted July for the new framework, but lawmakers needed more time to process amendments and coordinate the wider regulatory package. Aksakov previously said the timeline had shifted because of prolonged coordination between government agencies.
Russia has spent several years developing a broader system for cryptocurrency trading and digital asset services. Finance Ministry estimates cited by crypto.news in February placed domestic crypto trading volume at about 50 billion rubles, or roughly $640 million, per day, much of it outside regulated channels.
Tuesday’s second and third readings therefore represent the next legislative step for the country’s wider crypto market framework. The final text will determine how investor limits, licensed intermediaries and cross-border crypto transactions operate if the bill completes the remaining approval process.
