Russia's Duma Passes Crypto Bill with Foreign Trade Exception

Russia's State Duma has passed a crypto regulation bill in its first reading, setting up a licensing framework for crypto market participants and allowing companies to use digital assets in cross-border transactions. The bill designates the Bank of Russia as the authority responsible for licensing and overseeing crypto activity.

Non-qualified investors would be capped at purchases of up to 300,000 rubles, approximately $3,900, worth of crypto. Professional participants would face no such restriction. Kaplan Panesh, deputy chairman of the State Duma Committee on Budget and Taxes, said classifying crypto as property would allow asset holders to seek legal protection in court.

The bill introduces an exception for foreign trade, allowing Russian companies to settle transactions with counterparties willing to accept digital assets. This mechanism is expected to operate outside dollar-denominated correspondent banking. Russia has sought alternatives to conventional settlement infrastructure following sustained international sanctions pressure.