BlockBeats report: On July 21, the Russian State Duma approved a bill establishing regulatory rules for the cryptocurrency market, creating a legal framework for the operation of crypto assets within Russia and their use in cross-border trade. According to official records from the Russian State Duma, parliament completed the second and third readings of Bill No. 1194918-8, titled "On Digital Currencies and Digital Rights," and formally adopted it on Tuesday. Prior to this, the legislative body had scheduled the final vote as planned.
The bill establishes a regulatory framework for participants in the crypto market, covering cryptocurrency exchanges, brokers, asset management firms, and custodians, and sets compliance requirements for the operations of related entities.
According to the law: cryptocurrency assets are permitted for use in foreign trade (cross-border transactions); however, the use of cryptocurrencies for payments for goods and services within Russia remains prohibited. The main provisions of the law are expected to take effect on September 1, 2026, with a transition period lasting until July 1, 2027. However, the law still requires signature by Russian President Vladimir Putin to become official.