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Russia
2026-07-22 03:26:11

Russia passes final crypto market bill, but retail investors still face tight limits

Russia’s State Duma has approved the second and third readings of the Digital Currency and Digital Rights bill, setting the legal framework for a domestic crypto market while keeping strict controls on retail participation. The final version allows licensed exchanges, brokers, trustees, and custodians to operate under central bank oversight, and it also preserves the use of crypto in foreign trade settlements. Still, non-qualified investors remain capped at 300,000 rubles per intermediary per year, must pass risk testing, and are restricted to a narrow list of assets that meet demanding liquidity and market-cap standards. Stablecoins such as USDT and USDC are now treated separately from decentralized cryptocurrencies: access for investment is limited, but their use in cross-border trade is left open. The bill also gives limited room for transfers to self-custodied wallets, though larger withdrawals face a 48-hour cooling-off period. A separate criminal bill targeting unlicensed crypto businesses has not yet passed, leaving the boundary between illegal exchange activity and ordinary peer-to-peer transactions unsettled.

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Russia passes final crypto market bill, but retail investors still face tight limits
Russia
2026-07-17 01:50:52

Russia delays next readings of bill imposing criminal liability for illegal crypto trading

Russia’s State Duma will not move ahead with the second and third readings of a bill introducing criminal liability for illegal cryptocurrency trading until the next convocation, according to Bits.media, which cited Anatoly Aksakov, chairman of the Duma Committee on Financial Markets. The delay is tied to the legislative calendar: the spring session ends on July 27, followed by an election recess in August and September, with voting in the Duma election ending on Sept. 20. Review of the bill may resume in the autumn session at the earliest. The proposal passed its first reading in early July. It would allow penalties of up to seven years in prison for organizing illegal cryptocurrency circulation, with the relevant punishment provisions planned to take effect on July 1, 2027. Under the current regulatory framework, Russian citizens may buy and sell cryptocurrency only through institutions licensed by the Bank of Russia, while peer-to-peer and over-the-counter transactions could face criminal prosecution. Aksakov rejected concerns that the bill would affect crypto exchangers and P2P users, calling those fears groundless. Separately, another measure, the Law on Digital Currency and Digital Rights, has also been delayed after missing planned effective dates in July and September.

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Russia delays next readings of bill imposing criminal liability for illegal crypto trading