Russia's State Duma passed a law on digital currencies in its second and third readings simultaneously, regulating the circulation of cryptocurrencies. The bill is set to take effect on September 1 and will now be reviewed by the Federation Council.
The law defines permitted uses of cryptocurrency in Russia. For most Russians, crypto will be available only as an investment tool — using it to pay for goods, services, or information remains prohibited. An exception was made solely for foreign trade contracts between residents and non-residents.
Trading on Russian exchanges will be allowed only for assets with high capitalization and liquidity and a long pricing history. The Central Bank has specified that Bitcoin, Ethereum, and the USDT stablecoin currently meet these criteria.
Unqualified investors will face a cap on cryptocurrency purchases, expected to be no more than 300,000 rubles per year through a single intermediary. Before any transaction, all investors — both qualified and unqualified — must pass a special test.
Digital depositories, whose registry will be maintained by the Central Bank, will handle the accounting and storage of cryptocurrencies. Mining is permitted for individual entrepreneurs and legal entities on a special register, as well as for individuals within set energy consumption limits.
The law bans advertising cryptocurrencies as a means of payment. Crypto is officially recognized as property: individuals and individual entrepreneurs will pay personal income tax on income from transactions, while legal entities will pay corporate profit tax.
In spring 2026, bills introducing criminal liability for illegal cryptocurrency circulation without registration or a Central Bank license were submitted to parliament. The basic offense carries up to four years in prison, while organized group commission carries up to seven years. This law is set to take effect on July 1, 2027. The threshold for large-scale damage is set at 3.5 million rubles, and for especially large-scale damage at 13 million rubles.