- A proposed crypto bill to allow crypto for cross-border trade while maintaining strict bans on domestic digital asset payments.
- The initiative offers alternatives to traditional, dollar-based international payment systems.
Russia’s State Duma has approved a Digital Currency and Digital Rights Bill in its first reading, a report revealed. This landmark bill sets the stage for digital assets to be used in foreign trade while maintaining a strict ban on their use for domestic payments.
The proposed law creates a licensing framework overseen by the Bank of Russia, allowing exchanges, brokers, and financial institutions to operate legally within the crypto space.
The bill is expected to set investment tiers, capping non-qualified investors at 300,000 rubles (about $3900), while professional investors face no limit. According to Kaplan Panesh, deputy chairman of the State Duma Committee on Budget and Taxes, this initiative also classifies crypto as property. This classification could enable legal protections in cases like bankruptcy or divorce.
In a translated version of Panesh’s remarks, he shared in a statement, “This allows Russian companies to settle with foreign counterparties in cryptocurrency, bypassing sanctions restrictions.”
The domestic payment prohibition remains intact under the proposed law, meaning digital assets cannot be used for commercial transactions inside Russia, regardless of the bill’s passage.
The legislation still requires a second and third reading in the State Duma. If approved, this law could take effect on July 1, 2026.
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What This Initiative Means For Global Crypto Adoption
Russia’s move to allow crypto in cross-border trade could accelerate global adoption of digital assets in international commerce. According to industry experts, this initiative offers an alternative to the conventional banking rails.
The move signals a shift toward decentralized settlement methods and could also reduce reliance on dollar-based systems. Some industry observers note that this law creates a new, state-backed use case for crypto in international commerce, potentially encouraging other nations to follow suit. While the move strengthens crypto’s role in trade, analysts suggest it is more evolutionary than disruptive.
