On July 21, the State Duma passed Bill No. 1194918-8, On Digital Currencies and Digital Rights, in its second and third readings. The bill, submitted by the government in April 2026, has now completed its passage through the lower house of parliament. The next step is review by the Federation Council, after which the legislation will be sent to the president for signature.
The document significantly expands the provisions of Federal Law No. 259-FZ, which has been in effect since 2020. In addition to recognizing digital currencies as property, it creates a legal framework for the circulation of digital currencies through licensed market participants and designates the Bank of Russia as the primary regulator.
Special Regime Under Sanctions
Following the introduction of international sanctions, the Russian authorities are expanding the use of digital currencies in foreign economic activity while also establishing a stricter system of state oversight for the market.
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Before the second reading, lawmakers added a provision allowing the government, in coordination with the Bank of Russia and the FSB, to introduce a special digital currency framework aimed at protecting against political and economic sanctions.
Framework for International Settlements
The law clearly separates the domestic and international use of digital currencies. The ruble will remain the country's only legal tender for domestic payments, while Russian companies will be allowed to use digital currencies for international settlements with foreign counterparties.
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The Central Bank will maintain a registry of exchange operators, brokers, and other intermediaries. Non-qualified investors will be subject to an annual purchase limit of up to 300,000 rubles through a single intermediary. Qualified investors will not be subject to these restrictions.
A separate chapter of the law is dedicated to cryptocurrency mining. It establishes operating rules for legal entities and individual entrepreneurs, introduces a dedicated registry, and sets electricity consumption limits for individuals.
Next Steps for the Law
After review by the Federation Council, the law will be sent to the president. If it is signed into law, its main provisions will take effect on September 1, 2026, with a transitional period as provided by the law.