Russia's Duma Passes Crypto Bill Permitting Use in Foreign Trade

Non-qualified investors would be capped at purchases of up to 300,000 rubles, approximately $3,900, worth of crypto.

Crypto News

Russia's State Duma passed a crypto regulation bill in its first reading on Tuesday, establishing a licensing framework for crypto market participants and carving out explicit permission for companies to use digital assets in cross-border transactions while prohibiting crypto as a means of domestic payment.

The bill designates the Bank of Russia as the authority responsible for licensing and overseeing crypto activity in the country, according to state news agency TASS. It defines which entities, including exchanges, brokers, and other licensed financial institutions, are permitted to facilitate the circulation of cryptocurrencies, and provides a simplified authorization path for firms already operating under the Bank of Russia's experimental legal regime as well as banks and brokers seeking to expand into

services.

Access thresholds under the bill are tiered by investor classification. Non-qualified investors would be capped at purchases of up to 300,000 rubles, approximately $3,900, worth of crypto. Professional participants would face no such restriction.