Svmuu News: The Russian State Duma has completed the second and third readings of Bill No. 1194918-8, “Digital Currency and Digital Rights,” and successfully passed it. The bill establishes a comprehensive licensing and regulatory framework for the cryptocurrency market, covering cryptocurrency exchanges, brokers, asset management firms, and custodians, with the Bank of Russia responsible for issuing licenses and enforcing regulations.
The policy implements differentiated rules: it allows companies to use digital assets for cross-border settlements in foreign trade, but strictly prohibits the use of cryptocurrencies to pay for goods and services within Russia. The bill’s core provisions are scheduled to take effect on September 1, 2026, while certain supporting regulations include a transition period extending until July 1, 2027. After completing the Duma process, the bill must still be reviewed by the Federation Council and ultimately signed by President Putin before it can officially take effect as federal law.