BroadChain, April 23, 18:16, according to Bitcoinist, the Russian State Duma (lower house of parliament) passed a key bill in its first reading, aimed at establishing a regulatory framework for the digital asset market. The bill, titled "Digital Currency and Digital Rights," was approved with 327 votes in favor and is scheduled to take effect on July 1, 2026. The Russian government first proposed the draft in December 2025, with the goal of completing the regulatory framework by the summer of 2026. The bill still needs to pass second and third readings in the State Duma, be reviewed by the Federation Council (upper house of parliament), and ultimately be signed by the president.
The bill recognizes digital assets as property and grants the Central Bank of Russia (CBR) the authority to issue licenses, regulate, and supervise the local crypto market. Only professional participants licensed by the central bank will be allowed to enter the market. Kaplan Paneš, Deputy Chairman of the State Duma Committee on Budget and Taxes, stated: "Anonymous exchanges or 'black' brokers will not be permitted. Exchanges, brokers, and custodians will obtain licenses, and the central bank will oversee compliance. Transactions conducted through underground platforms will automatically face the risk of freezing and loss of funds." The bill also specifies entities authorized to facilitate the circulation of crypto assets, including exchanges, brokers, trust managers, and digital custodians holding central bank licenses.
Notably, the bill prohibits the use of cryptocurrencies for paying for goods, services, or labor within Russia but allows their use for cross-border settlements to circumvent sanctions restrictions. Paneš emphasized: "The legal tender in Russia is the ruble, and its exclusivity must be maintained. However, we make an exception for international trade, allowing Russian companies to use cryptocurrencies for settlements with foreign counterparties, thereby bypassing sanctions restrictions." The bill also introduces a tiered system that limits investment amounts based on investor classification. Non-qualified investors, after passing a knowledge test, can purchase up to 300,000 rubles (approximately $3,800) of highly liquid cryptocurrencies annually; qualified investors, after passing a risk awareness test, can purchase any digital assets without limits.
The bill also clarifies rules for using Russian information infrastructure for crypto mining, recognizing it as a legal activity but requiring the exclusive use of Russian infrastructure and reporting of equipment and mined cryptocurrencies. Paneš concluded: "The digital asset market in Russia has long been in a gray area, posing risks to citizens and the economy. Now, we clearly define: digital currency is property. This means it can be protected in court, included in bankruptcy estates, and considered in divorce proceedings. This is a crucial step toward legal protection for the millions who already hold such assets."