Russia’s push to bring the digital economy into global trade is progressing, though not as quickly as originally planned. After the first reading in April, the government’s crypto currency was revised and revised for the next session. Russia’s State Duma committee has approved an amended cryptocurrency law for a second reading, removing the requirement to declare crypto wallet addresses while adding requirements for crypto-backed funds and new controls.
The business theme has not changed: crypto remains banned for domestic payments but is allowed for cross-border transactions. Meanwhile, Bitcoin is highlighting its strength, closing above long-term support for the third straight week. Below, we cover both the regulatory changes and what the BTC chart is showing.
Where do Russian cryptocurrencies stand right now?
It passed one of three critical readings. The bill, titled “On Modern Money and Digital Rights,” passed the first reading when 327 out of 340 ministers voted in favor. It has since been renovated. The Financial Markets Committee of Russia approved the bill for the second reading, with the Chairman Anatoly Aksakov saying that the opinion removes the wallet address reports while strengthening the security laws for crypto owners.
Importantly, the second count vote has not yet taken place. The committee’s approval was announced via Aksakov’s Telegram channel, and the text on the State Duma website had not been changed since the bill cleared its first reading in April. Two readings by the Duma, the approval of the Federation Council, and the signature of the president are still required before it becomes law.
What changed in the revised bill?
A few things. The proposed amendment no longer requires cryptocurrency owners to declare wallet addresses; instead, the reader would only need to report the balance of the wallet and the volume of money. Aksakov said the update reduces the risk of sensitive information being used against Russia.
New investment and management systems were also added. Investors may be allowed to buy Russian securities and the Digital Financial Economy using cryptocurrencies, and licensed Russian businesses and asset managers may gain access to foreign securities. crypto exchangeaccording to additional information. Trading capital limits remain unchanged, while the bill introduces a new mechanism to allow regulators to delay other large crypto transfers for up to two days. The selling price is 300,000 rubles per year.
Why is cross-border trade important?
Because it gives Russian companies a way to settle outside of official banks. The bill maintains the ban on crypto for domestic currency while using it in foreign trade and, in the amended wording, covers the eligibility of businesses, consumer protection, crypto border trading, and the use of digital assets in the Russian financial markets. The scale is important: Russian importers and exporters moving goods in a trade area of about $240 billion and facing payment disputes have found a legal way to settle contracts in cryptocurrency.
Only major items are expected to qualify. Only cryptocurrencies with market caps above 5 trillion rubles (about $66.6 billion) and a five-year trading history are eligible, and Bitcoin and Ethereum initial approvals expected.
When will this law come into effect?
Later than we originally wanted. The head of the Ministry of Finance Alexey Yakovlev told Interfax that the bill is ready but it is unlikely that it will be approved with the original goal of July 1, 2026, after it was returned for review by the committee before the second reading. No replacement date has been confirmed, so the countdown is now dependent on how quickly the remaining counters move.
Bitcoin Price Analysis: Why Bitcoin Price UP?
Bitcoin just posted its highest weekly close in five weeks. Additionally, $BTC closed above its 200-week moving average support for the third week in a row – a strength that was evident because the Nasdaq 100 fell more than 4% during the same period. That separation from technology to support is what the bulls want to see.
A professional image is inspiring. The MACD has reversed, the RSI bullish divergence remains valid, and the Stochastic RSI is showing positive trends. The bullish candle from three weeks ago is still holding – a pattern that has appeared three times this cycle, each time followed by a strong rally.
Which sectors of Bitcoin are most in demand?
The map is clean in all directions. Resistance is $67,000, then $83,000. The grant is $58,000, then $49,000.
Two phenomena stand out. If BTC holds above $58K, it may break to $67K and then $83K. If instead BTC closes below $58K on the weekly chart, the next support is around $49K. With the current selling price close to $64K, $58K weekly closing is the line in the sand to watch.
