rewrite this title with good SEO Russia’s State Duma passes crypto-market measure in second and third readings

July 22 (Crypto-News.Net) – Russia’s State Duma, the lower house, passed a crypto-market measure in its second and third readings on July 21, the Bank of Russia said. The central bank said the measure would regulate investor access and the companies handling crypto trades. It would also cover crypto payments inside Russia and for foreign trade.

The Bank of Russia statement said investors without qualified status would need testing before buying the “most liquid” cryptocurrencies. The central bank said purchases would be capped at 300,000 rubles per year through each intermediary.

The statement did not include the final text passed by the Duma. Rossiyskaya Gazeta also reported passage in the second and third readings. Russia’s upper house, the Federation Council, scheduled its 618th meeting for July 24 on its official meeting page. The July 22 research had not verified Federation Council approval or a presidential signature. Official publication also remained unverified.

Crypto-market measure would require investor testing

Investors with qualified status would also have to pass a test, the Bank of Russia said. After testing, they could buy any cryptocurrency without an amount limit. The central bank did not identify which cryptocurrencies would meet the “most liquid” standard. It also did not explain how either test would work.

The Bank of Russia said existing financial organizations and new cryptocurrency exchanges would make up the regulated market. Special record-keeping firms called digital depositories would record investor rights. Brokers and asset managers could also serve investors. The statement did not explain how those businesses would obtain licenses.

Domestic crypto payment ban would remain

Cryptocurrency payments inside Russia would remain prohibited under the framework, according to the Bank of Russia. The central bank separately said exporters and importers could settle foreign-trade payments with cryptocurrency, either directly or through intermediaries. This permission is limited to foreign trade. It does not cover unrestricted cross-border transfers by all residents.

The Bank of Russia said foreign stablecoins would face the same requirements as other cryptocurrencies. Crypto-News.Net’s guide to what stablecoins are provides background on the asset category. The central bank did not name eligible tokens or explain rules for domestic or ruble-linked crypto assets.

Transition would extend into 2027

The Bank of Russia described Sept. 1, 2026 as the framework’s main effective date. It said crypto-market businesses would have until July 1, 2027 to obtain licenses and follow the new rules. The July 2027 date is a transition deadline. It is not the general effective date or a guarantee that an applicant will receive a license.

Reporting by Zoran Spirkovski. Editing by Crypto-News.Net.

Sources

Bank of Russia – State Duma passage and the central bank’s description of investor access, regulated infrastructure, payment boundaries, stablecoin treatment and implementation dates

https://cbr.ru/press/event/?id=32719

Federation Council of the Federal Assembly of the Russian Federation – Official meeting date for the 618th Federation Council meeting

http://council.gov.ru/activity/meetings/176377/

Rossiyskaya Gazeta – Independent corroboration of State Duma passage in second and third readings

https://rg.ru/2026/07/21/gosduma-priniala-zakon-o-regulirovanii-kriptovaliut-v-rf.html