Russia's State Duma passes comprehensive crypto market law, targeting Sept. 1 launch pending Putin's signature

Russia's State Duma approved bill No. 1194918-8, "On Digital Currency and Digital Rights," in its second and third readings on Tuesday. It still needs approval by the Federation Council and President Putin's signature before it becomes law, a process expected to take about two weeks

The bill recognizes cryptocurrency as property rather than money under Russian civil code, giving crypto holdings legal protection in courts, bankruptcy, and divorce proceedings, and creates five categories of licensed intermediaries like exchanges, brokers, management companies, depositories, and exchangers, all supervised by the Bank of Russia

Notably, domestic crypto payments stay banned, the ruble remains the only legal currency inside Russia but the law creates a sanctioned channel for Russian companies to pay foreign partners in crypto, bypassing Western banking restrictions. Main provisions take effect September 1, 2026, with full enforcement of the licensed-intermediary system arriving July 1, 2027