Russia passes cryptocurrency legislation, with the central bank leading market access

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BlockBeats News, April 22, According to Cryptopolitan, the State Duma of Russia has passed the first reading of the “Digital Currency and Digital Rights” bill, legalizing cryptocurrencies in Russia. The Central Bank of Russia will become the main regulatory authority, responsible for issuing licenses, approving or banning crypto transactions, and determining the legality of transactions. Cryptocurrencies are regarded as property, but their use for payment of goods and services domestically is prohibited, and the ruble (including digital ruble) remains the only legal tender. Companies may use cryptocurrencies for foreign trade settlements under sanctions.

The bill must be passed by July 1, 2026, after which ordinary Russian citizens can legally purchase digital assets through licensed intermediaries. Investors are divided into qualified and non-qualified categories; non-qualified investors must pass a test and have an annual purchase limit (the Central Bank proposes 300k rubles, approximately $4,000).

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