Russia Advances Digital-Currency Framework, Emphasizes Regulated Market Channels

Russia has taken a significant step towards regulating its digital-asset market by advancing a core digital-currency framework in the lower house. The proposed framework would channel crypto trading through licensed intermediaries under the Bank of Russia's oversight, aiming to formalize a pathway for crypto commerce while preserving a prohibition on domestic payments.

The draft law, which includes measures to restrict access to the most liquid digital currencies and enforce investment caps, is part of a broader legislative package. The package reinforces Moscow's intent to coordinate licensing, supervision, and compliance across the sector.

Experts have cautioned that overly stringent limits or a slow legislative process could incentivize activity to migrate underground or to unregulated actors. The Russian government has emphasized the need for formalized market governance, situating Russia within a growing cohort of jurisdictions pursuing such approaches.