Overview
- The State Duma scheduled second and third readings for Tuesday, July 21, bringing the draft bill to a final vote before it must still clear the Federation Council and receive presidential approval.
- The draft law would recognize digital assets as property and place licensing and supervision of exchanges and brokers with the Bank of Russia.
- Lawmakers approved a two‑tier investor system that limits non‑qualified buyers to about 300,000 rubles a year and lets qualified investors transact at far higher thresholds, with separate caps on transfers abroad.
- Amendments removed a wallet‑address disclosure rule and instead require balance and volume reporting and give authorities power to hold certain large foreign transfers for up to 48 hours.
- Key measures are set to take effect around Sept. 1, 2026 if adopted, licensed platforms could act as tax agents withholding investor taxes, and unlicensed services face possible bans from July 2027 as the state seeks to steer crypto toward regulated channels used for international trade.