Russia’s State Duma, the decrease home of parliament, has superior a draft regulation on its first studying aimed toward regulating digital currencies and overhauling the framework for digital monetary belongings, in response to RBC. The invoice handed with 327 of 340 deputies voting in favor.
Submitted by the federal government on April 1, the invoice, formally titled “On Digital Foreign money and Digital Rights,” introduces 5 forms of regulated organizations, together with exchanges, brokers, administration firms, depositories, and exchangers.
It additionally units out necessities for investor participation and supplies a framework governing how cryptocurrencies may be saved, traded, and exchanged.
Key options
Beneath the proposal, from July 1, 2026, residents and companies can be allowed to legally purchase crypto by licensed intermediaries. Moreover, solely cryptocurrencies assembly excessive thresholds for market capitalization, buying and selling quantity, and operational historical past can be eligible for organized alternate buying and selling.
The usage of crypto for home funds stays prohibited, however it is going to be permitted for overseas commerce settlements.
The proposal establishes a digital depository to handle crypto holdings, limiting withdrawals to licensed overseas establishments and excluding transfers to non-public wallets.
Russia’s central financial institution is given the authority to impose withdrawal limits. Non-qualified traders should endure testing and should face annual buy limits, whereas certified traders profit from extra versatile guidelines.
As well as, the regulation goals to ban crypto lending with out licensed intermediaries for all Russian foreign money residents, even in cross-border situations.
The ban on transactions with out intermediaries comes into pressure on July 1, 2027, though P2P transactions stay formally authorized till then, with payment-blocking programs and blacklisting mechanisms beginning earlier in 2026.
The invoice additionally redesigns the DFA market construction, will increase transparency necessities for issuers, and permits authorities entities to take part.
Subsequent steps
In Russia, a invoice should cross three readings within the State Duma earlier than turning into regulation. The primary studying addresses the overall idea and framework, with out amendments.
The second studying is the principle working stage, the place the invoice is reviewed intimately and amendments are proposed and voted on. The third studying is a ultimate vote on the complete invoice.
Lawmakers have two weeks to suggest amendments earlier than the second studying.
After the State Duma, the Federation Council should approve the invoice inside 14 days, adopted by presidential signature inside one other 14 days.
The regulation is ready to take impact on July 1, 2026, if handed.
