Russia’s State Duma is preparing to hold second and third readings of draft bill No. 1194918-8, titled “On Digital Currency and Digital Rights.” The bill is scheduled for consideration on July 21, 2026, after moving through its first reading in April.
The legislation is designed to create a formal legal structure for Russia’s digital asset market. It would define how licensed intermediaries handle crypto transactions, how investors access the market and how digital assets can be used in cross-border settlement.
Investor Limits Shape Retail Market Access
The framework introduces a tiered system for qualified and non-qualified investors. Non-qualified investors who pass testing would be allowed to buy digital currency through licensed intermediaries within limits set by the Bank of Russia, with earlier public summaries pointing to a 300,000 ruble annual threshold through one intermediary.
That structure gives regulators a way to permit retail participation while controlling capital exposure. Instead of allowing unrestricted access, the bill channels activity through supervised platforms and separates retail users from higher-capacity qualified investors.
The draft also focuses on licensed infrastructure rather than open peer-to-peer market access. Banks, brokers, exchanges, trust managers, digital depositories and crypto exchange organizations are expected to form the professional intermediary layer.
A revised version of the bill has also shifted toward balance and transaction reporting rather than direct wallet-address disclosure, according to Russian legal-market coverage. That change would still preserve oversight while reducing some exposure of sensitive wallet-level identifiers.
Cross-Border Use Remains the Main Strategic Driver
The bill’s most important use case is formalizing crypto for international trade settlement. The explanatory materials state that unified regulation is intended to improve market transparency and support the use of digital rights in foreign trade relations.
That makes cryptocurrency more of an external settlement and investment instrument than a domestic payment currency. The framework is expected to keep domestic payments restricted while opening a clearer channel for companies involved in cross-border commerce.
The proposed effective date has shifted toward September 1, 2026, after earlier timing was delayed by amendments and interagency coordination. Aksakov has said the delay reflected prolonged coordination with government agencies.
If the Duma approves the bill in final readings, it must still pass the Federation Council and receive presidential signature before becoming law. The next practical indicators will be the final voting outcome, the approved investor limits, intermediary licensing rules and whether the September implementation timeline holds.