Russia’s State Duma is set to vote July 21 on a sweeping crypto bill that would legalize regulated trading and cross-border settlements while preserving the country’s ban on digital-asset payments at home, RBC reported on Monday.
Key Takeaways
Russia’s Duma votes July 21 after 327 deputies backed the crypto bill’s first reading.Bank of Russia may cap retail crypto buys at 300,000 rubles, limiting domestic demand. Bitcoin trade use could expand Sept. 1, but licensing rules may delay full market access.The bill cleared its first reading on April 21, with 327 of 340 participating deputies voting in favor. Passage on Tuesday would send the legislation to the Federation Council before it could reach President Vladimir Putin for signature.
Russia Opens Trade Door but Guards the RubleThat distinction is central to Moscow’s strategy. The government is seeking alternative settlement channels as Western sanctions restrict access to correspondent banks and conventional payment networks, but it is not prepared to weaken the ruble’s role in domestic commerce.
Retail Access Comes With a Tight GateThe final framework also dropped an earlier demand that holders disclose individual wallet addresses. Reporting would instead focus on balances and transaction flows, although implementing rules could still determine how private wallets interact with licensed Russian infrastructure.
Mining would remain under Federal Tax Service oversight rather than the Bank of Russia, while regulated financial firms could gain new opportunities in custody, brokerage and foreign-trade settlement services.
What Bitcoin Traders Should WatchAnatoly Aksakov, chairman of the Duma’s Financial Market Committee, has said the legislation is expected to take effect Sept. 1. Additional Bank of Russia rules may be required before fully regulated trading begins, leaving implementation and enforcement as the next major tests.
RBC’s Kuzmicheva quoted Aksakov as saying:
