Russia Passes Cryptocurrency Bill, Central Bank to Lead Market Access

On April 22, according to Cryptopolitan, the State Duma of Russia passed the bill on “Digital Currency and Digital Rights” in its first reading, legalizing cryptocurrency in Russia. The Central Bank of Russia will become the main regulatory authority, responsible for issuing licenses, approving or prohibiting cryptocurrency transactions, and determining the legality of transactions. Cryptocurrency is considered property but is prohibited for domestic payments for goods and services, with the ruble (including the digital ruble) remaining the only legal tender. Businesses may use cryptocurrency for foreign trade settlements amid sanctions. The bill must be passed by July 1, 2026, at which point ordinary Russian citizens will be able to legally purchase digital assets through licensed intermediaries. Investors are categorized as qualified and non-qualified, with non-qualified investors required to pass a test and having an annual purchase limit (the Central Bank proposes 300,000 rubles, approximately $4,000).