Gate News message, April 22 — Russia’s State Duma passed a cryptocurrency regulation bill on first reading, classifying cryptocurrencies as “property” and designating the Central Bank of Russia to oversee market participants’ licensing and supervision. The bill introduces a tiered access mechanism for qualified and non-qualified investors.
The legislation prohibits the use of cryptocurrencies for domestic payments, with the ruble remaining the sole legal settlement currency. However, Russian enterprises are permitted to use cryptocurrencies for cross-border trade settlements with foreign counterparts to circumvent sanctions restrictions.
The bill must pass second and third readings and be reviewed by the Federation Council before being sent to the president for signature. If approved, it is expected to take effect on July 1, 2026.
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