{"id":2873,"date":"2026-07-20T20:11:06","date_gmt":"2026-07-20T20:11:06","guid":{"rendered":"https:\/\/xrpfaucet.site\/?p=2873"},"modified":"2026-07-20T20:11:06","modified_gmt":"2026-07-20T20:11:06","slug":"russias-first-comprehensive-crypto-law-is-two-votes-away-from-passing","status":"publish","type":"post","link":"https:\/\/xrpfaucet.site\/?p=2873","title":{"rendered":"Russia&#8217;s First Comprehensive Crypto Law Is Two Votes Away From Passing"},"content":{"rendered":"<div class=\"crypto-article\">\n<p>\ud83d\udcf0 <strong>Exclusive Crypto News &#038; Analysis:<\/strong> Stay ahead with the latest developments in the cryptocurrency and blockchain space.<\/p>\n<p>\ud83d\udcc8 <strong>Market Update:<\/strong> Real-time price movements, technical analysis, and trading signals.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/img.decrypt.co\/insecure\/rs:fill:1024:512:1:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2025\/09\/ukraine-russia-bitcoin-decrypt-style-gID_7.jpg@png\" \/><\/p>\n<div style=\"position:relative;overflow:visible;font-size:1.2em;line-height:1.58\">\n<div class=\"pt-8 pb-10 border-t border-b border-decryptGridline \">\n<h4 class=\"sc-b2a202e4-4 bNRGqr gg-dark:text-white\" color=\"#333\">In brief<\/h4>\n<ul>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">The State Duma&#8217;s second and third readings of a pending crypto bill are scheduled for July 21; if approved, the law takes effect September 1.<\/li>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">The bill explicitly permits crypto only for international trade, giving Russian companies a legal mechanism to route payments outside Western banking channels.<\/li>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Domestic crypto payments remain banned.<\/li>\n<\/ul>\n<\/div>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Russia&#8217;s State Duma, the lower house of its legislative body, takes its final two votes on the country&#8217;s first comprehensive cryptocurrency law on Tuesday.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">The bill\u2014titled &#8220;<a href=\"https:\/\/sozd.duma.gov.ru\/bill\/1194918-8\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\">On Digital Currency and Digital Rights<\/a>&#8220;\u2014still needs Senate approval and Russian President Vladimir Putin&#8217;s signature after that, a process Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, expects to take another two weeks. The law would then take effect on September 1.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">The original target was July 1, but the delay came from coordination bottlenecks between government agencies, per reports by the Russian outlet <a href=\"https:\/\/www.kommersant.ru\/doc\/8782231\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\">Kommersant<\/a>.<\/p>\n<h2 class=\"sc-b2a202e4-2 bmropA gg-dark:text-white scene:font-itc-avant-garde-gothic-pro scene:font-light\" style=\"margin-top:2em;text-align:left;padding-bottom:16px;margin-bottom:16px;border-bottom:1px solid #dfe2e4\" color=\"#333\">What the bill creates<\/h2>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">The legislation sets up a licensing regime\u2014a government-issued permit system\u2014for crypto exchanges, brokers, and custodians (companies that store cryptocurrency on your behalf, the way a bank holds cash). The Bank of Russia becomes the authority issuing those permits and can bar any cryptocurrency it deems a threat to financial stability.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Major financial institutions aren&#8217;t waiting: VTB and T-Bank have already announced plans to build crypto depositories.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Not every coin qualifies. To trade legally in Russia, a cryptocurrency needs a market capitalization (the total value of all coins in circulation) above 5 trillion rubles\u2014roughly $65 billion\u2014and at least five years of verified trading history on a licensed foreign exchange.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">That currently narrows the field to two: Bitcoin and Ethereum. Alexandra Fedotova, a lawyer at White Stone who has been tracking the legislation, told Russian outlet <i><a href=\"https:\/\/www.pnp.ru\/economics\/zarabotat-na-bitkoine-smozhet-lyuboy-rossiyanin.html\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\">Parliamentskaya Gazeta<\/a><\/i>  that the Bank of Russia would likely release a list of the top five or 10 most traded cryptocurrencies on major exchanges.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">&#8220;These will definitely include BTC and ETH,&#8221; she said. &#8220;Possibly SOL or TON may be added, given their popularity in Russia. Everything else is only for qualified investors.&#8221;<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Regular investors\u2014people without professional credentials\u2014face an annual purchase cap of 300,000 rubles (about $3,800) through a single licensed intermediary. Professional investors face no such limit\u2014but even they cannot buy privacy coins (cryptocurrencies engineered to hide transaction data and wallet addresses). Monero (XMR), Zcash (ZEC), and Dash are out entirely.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">&#8220;The CBR directly states: you cannot buy coins that hide recipients,&#8221; Fedotova said. &#8220;If you can&#8217;t build a transaction graph and see where the money came from, such an asset will not pass AML verification&#8221;\u2014AML (anti-money laundering) being the financial checks every licensed platform must run on transactions under the new framework.<\/p>\n<h2 class=\"sc-b2a202e4-2 bmropA gg-dark:text-white scene:font-itc-avant-garde-gothic-pro scene:font-light\" style=\"margin-top:2em;text-align:left;padding-bottom:16px;margin-bottom:16px;border-bottom:1px solid #dfe2e4\" color=\"#333\">\u201cBuy crypto\u201d and \u201cuse crypto\u201d are not the same thing<\/h2>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">If you\u2019re a Russian degen, the new legislation likely doesn\u2019t give you much to celebrate: You still cannot buy anything with crypto inside Russia.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">The law permits cryptocurrency only for international trade\u2014Russian companies paying foreign partners in Bitcoin to route transactions outside Western banking channels. The ruble stays Russia&#8217;s only legal payment at home.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Kaplan Panesh, deputy chair of the State Duma&#8217;s Budget and Taxes Committee, explained when the bill passed its <a href=\"https:\/\/decrypt.co\/365125\/russia-advances-sweeping-crypto-bill-with-provisions-for-circumventing-sanctions\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\">first reading in April<\/a>that legislators designed the bill with the preservation of the Russian ruble in mind: &#8220;This allows Russian companies to use cryptocurrency to pay foreign counterparties, circumventing sanctions restrictions.&#8221;<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Russia has been under Western sanctions since 2014, with far steeper penalties following its 2022 invasion of Ukraine. The <a href=\"https:\/\/decrypt.co\/358159\/eu-moves-to-ban-all-crypto-transactions-with-russian-entities-report\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\">EU moved in February<\/a> to ban all crypto transactions with Russian entities. Moscow kept legislating.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Putin <a href=\"https:\/\/decrypt.co\/243821\/putin-signs-bill-green-light-crypto-mining-russia\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\">signed Russia&#8217;s crypto mining law<\/a> in August 2024, making Russia the world&#8217;s second Bitcoin producer after the United States according to the <a href=\"https:\/\/hashrateindex.com\/blog\/top-10-bitcoin-mining-countries-of-2026\/\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\">Hashrate Index, 2026<\/a>. The new bill layers trading and settlement rules on top of that\u2014completing the regulatory picture Moscow has been building since the first sanctions hit.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Unlicensed platforms face a full ban starting July 1, 2027.<\/p>\n<div class=\"my-4 border-b border-decryptGridline\">\n<div class=\"text-start p-8 md:py-12 md:px-12 max-w-prose relative\"><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-(6px) md:border-l-(6px) md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute top-4 left-4 md:top-6 md:left-6\"\/><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-(6px) md:border-l-(6px) md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute rotate-180 bottom-4 right-4 md:bottom-6 md:right-6\"\/><\/p>\n<h3 class=\"font-akzidenz-grotesk font-bold text-xl md:text-3xl md:text-center gg-dark:text-white\">Daily Debrief<!-- --> Newsletter<\/h3>\n<p>Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>\ud83d\udca1 <strong>Pro Tip:<\/strong> Bookmark our site for daily insights, market predictions, and expert trading strategies.<\/p>\n<p>\ud83d\udd17 <strong>Explore More:<\/strong> Check our sections for in-depth guides, exchange reviews, and blockchain technology deep-dives.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\ud83d\udcf0 Exclusive Crypto News &#038; Analysis: Stay ahead with the latest developments in the cryptocurrency and blockchain space. \ud83d\udcc8 Market Update: Real-time price movements, technical analysis, and trading signals. In brief The State Duma&#8217;s second and third readings of a pending crypto bill are scheduled for July 21; if approved, the law takes effect September &hellip;<\/p>\n","protected":false},"author":1,"featured_media":2874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-2873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts\/2873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2873"}],"version-history":[{"count":0,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts\/2873\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/media\/2874"}],"wp:attachment":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}