Russia’s State Duma Officially Recognizes Crypto as Property, but Bans Domestic Usage

Russia’s State Duma passed the country’s long-awaited crypto regulation bill in its first reading on April 22, 2026, formally recognizing cryptocurrency as property under Russian law. However, Bitcoin and Ethereum are expected to be among the first approved assets. 

Russia Crypto Bill Classifies Crypto as Property

Russia’s State Duma has passed the first reading of a new law titled “On Digital Currency and Digital Rights,” officially recognizing cryptocurrencies like Bitcoin as property. 

The bill received overall political support and sets the foundation for a structured crypto framework in the country.

Under the proposed rules, cryptocurrencies can be used for cross-border payments and foreign trade, but they will remain banned for everyday domestic use. This means crypto cannot be used to pay for goods, services, or salaries inside Russia. 

Meanwhile, the ruble will continue to be the only legal currency for internal transactions. This shows that Russia is opening the door to crypto, but in a limited and controlled way.

Additionally, the bill also makes crypto mining legal, but with clear conditions. Miners must register their equipment and operate within Russia’s infrastructure. This could help the government track and regulate the industry more effectively.

Strict Rules for Exchanges, Investors, and Banks

The bill gives the Bank of Russia full control over crypto operations. It will license exchanges and brokers, set rules, and supervise all activity in the sector.

• License exchanges and brokers
• Set rules for operations
• Monitor all crypto-related activity

Investors will also be divided into two groups:

• Qualified investors (with fewer limits)
• Non-qualified investors (limited to around $3900 to $4,000 per year)

This approach aims to protect smaller investors from high market risks.

What Happens Next for Russia’s Crypto Law

If fully passed, the law is expected to come into force on July 1, 2026, with some sections taking effect later. This gives Russia time to refine the system before full implementation.

With over 20 million crypto users, Russia is now building a structured system rather than leaving the market unregulated.