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Russian State Duma is it has passed the first reading of the popular crypto-law bill that legalizes the digital economy in the international community, a direct legal response to Western sanctions that have cut off major Russian banks from global payment systems, including SWIFT.
The bill passed its first reading and frame he built on the regulatory proposal of the Central Bank of Russia published at the end of December 2025, speeding up years of debate on the right to become permanent rules.
Its size is huge. Russian exporters and traders moving goods to $240 billion in trade that are facing payment problems now have a legal way to terminate contracts in cryptocurrency.
The Kremlin is building another economic railway, and the design of the railway is being seen for the first time.
The question the market should be asking is not whether this bill will become law, it will. The question is how fast OFAC will be to close the gap that opens.
- Your internship: The State Duma of Russia passed the crypto regulation law in the first reading; two additional readings including the approval of the Federation Council and the signature of the president are required before implementation.
- Core legalization: The bill authorizes the use of digital currency in border settlements and Russian businesses – domestic circulation as a means of payment remains prohibited.
- Investor Shares: Unqualified wholesalers face a 300,000 rubles ($3,800 USD) annual purchase cap through each intermediary; qualified investors are not subject to quantitative restrictions.
- Product Eligibility: Only cryptocurrencies have the above market caps 5 trillion rubles ($66.6 billion USD) and a five-year trading history qualify – Bitcoin and Ethereum are the first expected approvals.
- Time: Trading on the licensed platform can begin July 1, 2026; Unlicensed platforms are subject to a full ban July 1, 2027.
- View item: The State Duma Committee on Protection of Competition has already announced a regulatory threat – further changes are expected before the final passage.
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What Russia’s Crypto Bill Actually Allows, and What It Intentionally Doesn’t
The central provision of the Russian crypto bill draws a sharp line: cryptocurrencies are acceptable for international trade, not for buying coffee in Moscow.
Domestic spread as a means of payment has not been explained, the acceptance of the Bank of Russia’s long-standing complaint about financial independence is a mass flight.
The design of the Investor of the Investor is the most important factor in the domestic application. Non-eligible investors are offered 300,000 rubles (~$3,800 USD) per year through any licensed intermediary.
Qualified brokers, bankers, professional traders, and net worth individuals do not have a ceiling. The Bank of Russia is at the center of the infrastructure: it licenses platforms, approves or bans transactions, and maintains sole control over which digital assets can be legally traded within Russia’s legal framework.
The qualifications for wealth are intentionally low. Only cryptocurrencies to remove 5 trillion rubles ($ 66.6 billion USD) market cap peak with a proven track record of five years of trading to make a cut. Bitcoin and Ethereum are the obvious first qualifiers, an arrangement that functions less as a stable framework and more as a Bitcoin-and-Ethereum bill with additional space.
The government is also looking into tax cooperation between digital investors and traditional bondholders, a sign that Moscow sees crypto participation as a legitimate financial sector, not a gray area.
Bitcoin Mining and Domestic Compliance: What Russian Workers Are Now Facing
Along with the process of internationalization, the bill introduces the first regulation of Bitcoin mining on Russian soil.
Individual and industrial miners must register under a formal process; Operation outside the registry will be unlicensed operation after July 1, 2027, the deadline for unlicensed platforms.
The federal government does not have the power to ban mining in low-power areas, which is intended to protect the national grid during peak demand.
Russia’s crypto mining sector has grown exponentially since China banned mining in 2021, and unregulated power piracy has become a hot topic in Siberia and the Far East.
Uzbekistan’s approach, a 10-year tax holiday within a special jurisdiction renewable energy needsprovides a different example of how post-Soviet countries are competing for mining capital.
The State Duma’s Committee on Competition Protection has already expressed concern that the legal requirements could be reversed, leaving Russian employers and crypto businesses with the same wealth that the bill was designed to eliminate. Expect the second reading to be a battleground for what’s to come.
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