Russia advances crypto framework for sanctions evasion. Key facts: State Duma passed bill in first reading (Apr 22, 2026), allowing crypto in cross-border settlements while banning domestic payments. Crypto classified as property with legal protections. Bank of Russia to license exchanges and brokers; non-qualified investors capped at ~$3,900. Expected effective July 1 after further votes. Upside: Enables direct trade with partners, bypassing restrictions (per Duma official: "bypassing sanctions"). Risk: Maintains tight state control over ruble dominance. Alpha angle: Reveals hidden de-dollarization signal—potentially seeding BRICS crypto rails faster than public rhetoric suggests. Watch commodity flows as early test.(unfolded.)