Russia's State Duma to Hold Final Readings on Crypto Bill
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- Russia's State Duma will hold second and third readings of crypto bill No. 1194918-8, titled "On Digital Currency and Digital Rights," on Tuesday, according to Financial Markets Committee chairman Anatoly Aksakov via RBC.
- The bill caps non-qualified investor crypto purchases at 300,000 rubles ($3,800) annually per intermediary and limits cross-border transfers to 100,000 rubles.
- Qualified investors would face higher thresholds: 3 million rubles for crypto purchases and 1 million rubles for transfers abroad.
- If passed, the legislation would create Russia's first formal legal framework for cryptocurrency activity, including explicit rules for cross-border trade operations.
- Main provisions are scheduled to take effect September 1 once both remaining readings clear.
- Aksakov said the bill would let companies supplying goods to Russia use crypto assets "without excessive legislative and legal restrictions," framing it as a trade-settlement enabler.
Why it matters: Russia would replace its current crypto legal gray zone with the country's first comprehensive digital-asset framework, complete with tiered retail-versus-qualified investor purchase caps (300,000 vs. 3 million rubles). The cross-border payment provisions, if enacted by September 1, would give foreign suppliers and Russian firms a defined channel for settling trade in crypto rather than relying on ad hoc arrangements.
