Russia passes first comprehensive crypto market law

Homepage > News > Business > Russia passes first comprehensive crypto market law Russia’s State Duma, the lower house of the parliament, has passed the On Digital Currency and Digital Rights bill, marking a major step toward the country’s first comprehensive legal framework for governing digital asset markets, including a licensing regime and rules for the operation of crypto exchanges, digital depositories, and market participants. The legislation aims to bring digital asset activity under formal state oversight while permitting its use in controlled circumstances, particularly for cross-border trade. It will now proceed to the Federation Council, the upper house of parliament, and, if approved, to President Vladimir Putin’s desk to be signed into law. New regime to bring clarity Russia’s digital asset regime remains fragmented. Digital asset ownership, trading, mining, and cross-border use are permitted under sector-specific rules, while domestic payments remain prohibited. Current regulation largely relies on tax, anti-money laundering (AML), mining, and digital financial asset laws rather than a unified framework, leaving legal uncertainty despite a growing interest in...