The State Duma has adopted in the first reading the draft law âOn Digital Currency and Digital Rights.â The document recognizes cryptocurrency as property and establishes a legal framework for its lawful circulation in Russia.
Trading in digital assets will be conducted exclusively through licensed intermediariesâexchanges, brokers, and trust managers. Accounting for rights to crypto assets will be entrusted to specialized custodians. The Bank of Russia will assume regulatory oversight and supervision of the market.
Non-qualified investors, after passing a test, will be able to purchase the most liquid digital currencies from the Central Bankâs list within a set limit. Qualified investors will be able to buy any cryptocurrencies without volume restrictions.
The use of cryptocurrency as a means of payment domestically remains prohibited. In foreign trade activities, settlements in digital assets will be permitted. Banks will be prohibited from transferring funds to foreign and unlicensed platforms without the involvement of Russian intermediaries.