Russia's State Duma Approves Crypto Market Bill in Second and Third Readings, 327 Lawmakers Vote in Favor

Russia's lower house of parliament approved bill No. 1194918-8, titled "On Digital Currency and Digital Rights," in its second and third readings on Tuesday. The State Duma vote garnered 327 of 340 lawmakers in favor. The bill now requires approval by the Federation Council and President Vladimir Putin's signature before becoming law.

The legislation would regulate digital asset activity and allow crypto to be used in foreign trade operations while maintaining a ban on domestic payments. Non-qualified investors would face annual limits of 300,000 rubles (roughly $3,800) on crypto purchases and 100,000 rubles on transfers abroad. The Bank of Russia would supervise the regulated market and initially limit retail investors to Bitcoin, Ethereum and USDT. Most provisions are set to take effect Sept. 1, 2026, with a transition period through July 1, 2027, when unlicensed platforms face a full ban.