This post was originally published on Cointelgraph
Russia’s lower house of parliament passed a bill in first reading on Tuesday that would create the country’s core legal framework for digital currency, moving Moscow closer to a system that channels crypto trading through licensed intermediaries under Bank of Russia oversight.
The draft bill No. 1194918-8, titled “On Digital Currency and Digital Rights,” passed its first reading in the State Duma on Tuesday, according to official records.
The bill would allow Russians to buy and sell crypto through approved intermediaries as early as July, while banning unlicensed crypto platforms beginning in July 2027, if the draft becomes law.
The bill is part of a new comprehensive legislative package aimed at restricting crypto trading to regulated platforms in Russia, alongside at least three other related bills introduced. One of them, bill No. 1194929-8, also passed the first reading on Tuesday.
Together, the bills would push Russia’s crypto market toward a licensed, state-supervised structure, though key enforcement pieces are still unresolved.
Key provisions of the bill
Bill 1194918-8 “On Digital Currency and Digital Rights,” would introduce investment limits for retail investors, allowing purchases only of the “most liquid digital currencies,” as defined by the Bank of Russia.
Those assets would have to meet several thresholds, including an
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