The State Duma has allowed Russians to invest in cryptocurrency but has banned its use as a means of payment
The Russian State Duma passed a law in its second and third readings that legalizes the circulation of cryptocurrencies in the country. The bill specifies the circumstances under which Russians will be able to use digital assets and sets restrictions on transactions involving them.
For most citizens, cryptocurrency will be available primarily as an investment tool. At the same time, paying for goods and services with crypto assets within Russia will remain prohibited. Exceptions are provided for participants in foreign economic activity and cryptocurrency exchanges.
Russians will be able to purchase digital assets on exchanges through brokers and managers. Unqualified investors will first have to pass a special test. In addition, investment limits will be set for them: it is expected that, through a single intermediary, individuals will be able to purchase cryptocurrency worth up to 300,000 rubles per year.
Russian exchanges plan to allow trading only in cryptocurrencies with high market capitalization and liquidity, as well as a long history of price formation. The Central Bank of the Russian Federation previously noted that currently only Bitcoin, Ethereum, and the USDT stablecoin meet these criteria.
The law is set to take effect on September 1, 2026.
This is reported by Russian propaganda media outlets.
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