PANews reported on April 22 that, according to Cryptopolitan, the Russian State Duma passed the first reading of the bill "On Digital Currency and Digital Rights," legalizing cryptocurrencies in Russia. The Central Bank of Russia will become the primary regulatory body, responsible for issuing licenses, approving or prohibiting crypto transactions, and determining the legality of transactions. Cryptocurrencies are considered property but are prohibited from being used domestically for payments for goods and services; the ruble (including the digital ruble) will remain the sole legal tender. Businesses can use cryptocurrencies for foreign trade settlements even under sanctions.

The bill must be passed by July 1, 2026, at which time ordinary Russian citizens can legally purchase digital assets through licensed intermediaries. Investors are divided into qualified and unqualified categories. Unqualified investors must pass a test and have an annual purchase limit (the central bank proposes 300,000 rubles, approximately $4,000). Only cryptocurrencies with a market capitalization exceeding 5 trillion rubles, a daily trading volume exceeding 1 trillion rubles, and a trading history of at least five years will be permitted to be traded, potentially including Bitcoin, Ethereum, Solana, BNB, and TRON. The bill also introduces criminal liability for illegal crypto operations, with a maximum fine of 1 million rubles (approximately $13,000) and a maximum imprisonment of 7 years.