Russia Passes Cryptocurrency Bill, Central Bank to Oversee Market Access

April 22 — Russia’s State Duma has passed the “Digital Financial Assets” bill, legalizing cryptocurrency in the country, per Cryptopolitan. The Central Bank of Russia will serve as the primary regulator, tasked with issuing licenses, approving or rejecting crypto exchanges, and determining transaction legality. Cryptocurrency will be classified as property but cannot be used for domestic payments for goods or services — the ruble (including the digital ruble) remains Russia’s only legal tender. Businesses may use cryptocurrency for foreign trade settlements, particularly amid sanctions. The bill is set to be fully enacted by July 1, 2026. At that point, ordinary Russians will be able to legally purchase digital assets through licensed intermediaries. Investors will be categorized as qualified or unqualified: unqualified investors must pass a test and face an annual purchase cap of 300,000 rubles (roughly $4,000), as proposed by the Central Bank.