Russia Advances Digital Currency Bill with Stricter Controls and Market Limits

Russia's move towards formal crypto regulation has taken a significant step forward as lawmakers advanced a key digital currency bill in its first reading. The proposal sets a timeline for licensed trading and stricter controls, aiming to shift crypto activity into regulated channels and reduce informal trading networks.

The State Duma approved draft bill No. 1194918-8 during its first reading this week. The legislation defines a core structure for digital currency operations across Russia, placing crypto trading under the supervision of the Bank of Russia.

The proposal allows residents to buy and sell crypto through approved intermediaries starting July 2026. However, it bans unlicensed platforms from operating by July 2027. Authorities aim to control exposure while maintaining supervised participation by introducing strict eligibility rules for digital assets available to retail users.