- Russia’s lower house passed a crypto bill in its first reading
- The bill would allow crypto in foreign trade settlements
- Domestic crypto payments would still remain banned
- It also creates a framework for licensed crypto market participants
Russia Moves Closer to a Formal Crypto Framework
Russia’s State Duma has passed a crypto bill in its first reading, marking another step toward a more defined legal structure for the country’s crypto market.
The proposal gives the Bank of Russia a central role in licensing market participants and overseeing crypto activity. It also sets out which institutions, including exchanges and brokers, would be allowed to operate in the sector.
Domestic Payments Still Off Limits
A key part of the bill is that crypto would be recognized as property, but not as legal payment for goods and services inside Russia.
That means the ruble would remain the only official domestic means of payment. However, the bill creates an exception for foreign trade, allowing Russian companies to use crypto when dealing with overseas partners.
Why Foreign Trade Matters
This part of the proposal is especially significant because it gives companies another way to settle cross-border transactions. Russian officials have openly said that crypto could help businesses operate around sanctions-related restrictions.
In practical terms, the bill is trying to separate domestic monetary control from external trade flexibility.
More Steps Still Needed
The legislation still has to pass second and third readings, then move to the Federation Council and finally the president for signing.
If it becomes law, it is expected to take effect on July 1, 2026. The bill would also introduce different access rules for professional and non-professional investors, limiting how much regular investors can buy.
