Bill Regarding Bitcoin (BTC) Cryptocurrencies in Russia Receives First Official Approval!

Russia, where the use of Bitcoin (BTC) and cryptocurrencies is very high, continues to take regulatory steps.

According to the Russian local news agency TASS, the Russian State Duma has approved a bill on cryptocurrencies in its first reading.

At this point, the Duma approved a bill titled “On Digital Currency and Digital Rights”.

The essence of the bill is to appoint the Central Bank of Russia as the regulatory authority for cryptocurrencies and to allow the use of cryptocurrencies in foreign trade payments.

According to the draft law, the Central Bank of Russia will be designated as the key institution overseeing the cryptocurrency market, granting broad powers to issue licenses, approve or prohibit transactions, and determine legality.

The bill also defines the procedures for banks and brokerage firms to enter the cryptocurrency market. Accordingly, regulations regarding cryptocurrency investment will be applied differently depending on the eligibility criteria.

Specifically, the limit for purchasing cryptocurrency is capped at 300,000 rubles per person for unqualified investors. However, this limitation will not apply to qualified investors.

The bill also recognizes cryptocurrencies as property under the Russian legal system.

Finally, the bill needs to pass second and third readings in the State Duma before being submitted to the Federal Council and ultimately to the President for approval. According to the report, if officially approved, the bill is expected to come into effect on July 1, 2026.

*This is not investment advice.