Russia’s Duma Approves Crypto Use for Foreign Trade

The State Duma approved in a first reading a bill that classifies cryptocurrency as property, permits crypto settlements in foreign trade and maintains a ban on crypto payments inside Russia.

The draft law gives digital assets the same legal status as other property, allowing courts to treat cryptocurrency in civil cases such as bankruptcy and divorce. It also sets rules for market participants and investor protections.

Under the proposal, non‑qualified retail investors would face an annual purchase limit of 300,000 rubles, about $3,900. Professional market participants would not be subject to that cap. The Bank of Russia would be responsible for licensing and supervising firms that operate under the new framework.

Lawmakers reiterated that the ruble remains the country’s only legal settlement currency, while the bill creates an explicit exception permitting cryptocurrency use in trade with foreign counterparties. Kaplan Panesh, deputy chairman of the State Duma Committee on Budget and Taxes, stated that the provision allows Russian companies to use crypto to pay foreign partners and bypass some restrictions on conventional banking.

Parliamentarians set a target date of July 1, 2026, for the legislation to take effect, pending two more readings in the State Duma, approval by the Federation Council and the president’s signature.

The proposal follows earlier measures that banned crypto payments domestically in 2020 while allowing ownership and trading. Officials and industry participants have used limited crypto channels for some cross‑border transactions. A recent report from a blockchain forensics firm linked at least one Russia‑connected network to large stablecoin flows over an 18‑month period that analysts associated with sanctions evasion.

At the same time, regulators in the European Union have proposed measures to block crypto transfers to and from Russian entities to prevent sanctioned parties from using digital assets to avoid restrictions. Those proposals reference cases in which sanctioned crypto service providers relaunched under new names. Some trading platforms that attempted to restart services have reported major hacks and operational disruptions.

The draft law updates legal definitions for cryptocurrencies, creates central bank licensing duties, defines investor categories and sets purchase limits for non‑professional buyers. Final passage would complete the current legislative effort to set formal rules for digital assets while keeping domestic payment restrictions in place.