PANews April 22 news, according to Cryptopolitan, the Russian State Duma has passed the "On Digital Currency and Digital Rights" bill on first reading, legalizing cryptocurrency in Russia. The Central Bank of Russia will become the main regulatory body, responsible for issuing licenses, approving or prohibiting cryptocurrency transactions, and determining the legality of transactions. Cryptocurrency is considered property, but it is prohibited from being used domestically for the payment of goods and services, and the ruble (including the digital ruble) remains the only legal tender. Businesses may use cryptocurrency for foreign trade settlements amid sanctions.

The bill must be passed by July 1, 2026, at which point ordinary Russian citizens can legally purchase digital assets through licensed intermediaries. Investors are categorized into qualified and non-qualified classes, with non-qualified investors required to pass a test and have an annual purchase limit (the Central Bank proposed 300,000 rubles, approximately 4,000 dollars). Only cryptocurrencies with a market value over 5 trillion rubles, average daily trading volume over 1 trillion rubles, and a trading history of at least five years are allowed for trading, potentially including Bitcoin, Ethereum, Solana, BNB, TRON, and others. The bill also introduces criminal liability for illegal cryptocurrency operations, with fines up to 1 million rubles (approximately 13,000 dollars) and imprisonment of up to 7 years.

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