The Russian State Duma has advanced new legislation aimed at regulating major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP, officially classifying them as property. The proposed law would allow these digital assets to be traded commercially among businesses, while restricting retail investors to an annual cap of 300,000 rubles, approximately $3,800.
Retail limits and commercial use defined
If enacted, the new regulation would enable merchants to accept selected cryptocurrencies for commercial transactions. However, private citizens would remain prohibited from using Bitcoin, Ethereum, Solana, or XRP for in-store purchases or online payments for goods and services. Regulators reportedly view major-cap crypto primarily as investment assets or as payment vehicles for cross-border trade, rather than for retail consumption in the domestic economy.
Under the measures, Russian citizens would only be permitted to invest in or use these cryptocurrencies in strictly regulated ways, while businesses could leverage them for commercial transactions, especially in international contexts.
The restrictions reflect Russia’s ongoing preference for maintaining the ruble as the exclusive means of payment within its borders, while seeking greater flexibility for international settlements amid continuing Western sanctions.
New tiered investor system and reporting rules
The bill, titled “On Digital Currency and Digital Rights,” is scheduled for completion by July 22, 2026. It introduces a tiered system for retail investors, who must pass a knowledge-based assessment to access higher limits. Successful participants can reportedly purchase up to 3 million rubles in crypto and transfer up to 1 million rubles abroad each year.
In 2024, Russian President Vladimir Putin approved a law legalizing crypto mining, indicating continued regulatory experimentation rather than an outright ban in the sector.
The latest draft of the legislation also proposes easing certain disclosure requirements. Retail holders would no longer need to report individual wallet addresses; instead, regulatory focus would shift to aggregate wallet balances and transaction volumes.
Despite these changes, the Bank of Russia will continue overseeing all cryptocurrency transactions, with the legislation expected to take effect on September 1, 2026. The country’s approach mirrors aspects of the SWIFT international payment system, aiming to facilitate external trade while maintaining oversight.
Mini dictionary: State Duma – The lower house of the Federal Assembly of Russia (the Russian parliament) responsible for drafting and passing legislation.
| Category | Commercial Use | Retail Limit |
|---|---|---|
| Permitted cryptocurrencies | BTC, ETH, SOL, XRP | BTC, ETH, SOL, XRP |
| Annual cap | No cap for merchants | 300,000 rubles (~$3,800) |
| In-store/online payments | Allowed for merchants (B2B) | Not permitted for individuals |
Global context and parallel approaches
Russia has increasingly used digital assets to circumvent Western sanctions, particularly following the disconnection from major European financial networks in 2022. This year, significant European financial institutions introduced multi-chain ledgers for cross-border payments, reflecting a broader move toward digital solutions for global finance.
Japan recently finalized its digital asset regulatory framework, reclassifying Bitcoin, Ethereum, and XRP as financial instruments. This move aligns with the growing global trend of establishing formal oversight for digital assets.
Meanwhile, the United States continues to consider new regulations. The CLARITY Act, which could see adoption by August 2026, is under discussion amid broader ethics reforms in the White House. The U.S. market sees widespread use of crypto both as investment and for transferring money among the public. Notably, American stablecoins such as USDC and RLUSD play a key role in tokenization and digital finance.
Unlike Russia, the United States allows wider use of digital assets for everyday transactions, and American stablecoins remain prominent in domestic and international markets.
