Key Takeaways Russia’s crypto framework is scheduled for a second Duma reading on July 21, 2026. Qualified investors would have no general purchase ceiling, excluding anonymous cryptocurrenci
Russia’s proposed cryptocurrency framework is nearing another parliamentary vote, but it is not yet law. As of July 20, 2026, bill No. 1194918-8 was listed in the State Duma’s official legislative database for a second reading on July 21. It would still need a third Duma vote, approval by the Federation Council and the president’s signature.
The government approved the package on March 30, 2026 and submitted it to parliament in early April. The proposal would bring cryptocurrency trading into a regulated system overseen by the Bank of Russia rather than make crypto legal tender.
Licensed exchanges, brokers and trust managers could handle cryptocurrency transactions, while specialist exchange and custody businesses would face separate requirements. The Bank of Russia’s framework says digital currencies and stablecoins could be bought and sold, but not used to pay for goods or services inside Russia.
Foreign trade would remain a separate use case. Russia already permits digital currency in some cross-border contracts through an experimental legal regime. The revised bill also provides exceptions for payments connected to foreign-trade contracts within its controls against unauthorized crypto activity.
Sberbank, for instance, plans a crypto wallet launch by December 2026, while Alfa -Bank proposed crypto custody service.
Non-qualified investors would first need to pass a risk test and could buy only cryptocurrencies meeting liquidity criteria. Purchases would be limited to ₽300,000 per year through one intermediary (around $3,870).
The wording remains important. The central bank describes the ceiling as applying “via one intermediary,” but its public framework does not explain whether purchases made through several licensed firms would be combined. The final law or implementing rules must clarify whether the cap is per intermediary or per investor across the whole market.
Qualified investors would have broader access. After passing a risk test, they could buy cryptocurrencies without a general transaction limit, except for anonymous assets designed to conceal transfers. Some coverage has reported a ₽3 million annual cap for this group, but the central bank’s official framework contains no such ceiling.
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Why Central Banks Keep Testing ChainlinkThe bill is sometimes described as Russia’s first recognition of cryptocurrency as property. That is misleading. On February 10, 2026, the Duma approved separate legislation treating digital currency as property under criminal and criminal-procedure rules, including procedures for freezing and seizing it during investigations.
The current proposal is mainly about market access, approved intermediaries and supervision rather than creating new property rights.
A successful second reading would not complete the process. Deputies may still amend the text before the third reading, and the upper chamber and president must also approve it. Controls requiring residents to use authorized intermediaries, along with measures targeting the illegal crypto market, are expected to apply from July 1, 2027.
Until the final text is enacted, the ₽300,000 limit, eligible assets and reporting procedures remain proposed rules rather than obligations already in force.
Source review: Checked on July 20, 2026 against the State Duma database, the Bank of Russia, the Russian Government and Interfax’s review of the revised bill.
This article is provided for informational purposes only and does not constitute financial, investment or legal advice.
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