TechFlow News, April 22: According to The Block, Russia’s State Duma approved the cryptocurrency regulatory bill at its first reading. The bill proposes classifying cryptocurrencies as “property,” designating the Central Bank of Russia as the authority responsible for licensing and supervising market participants, and introducing a tiered access mechanism distinguishing between qualified and non-qualified investors. The bill explicitly prohibits using cryptocurrencies for domestic payments—rubles remain the sole legal tender—but permits Russian companies to use cryptocurrencies for cross-border trade settlements with foreign counterparties to circumvent sanctions. The bill still requires second and third readings in the State Duma, review by the Federation Council, and presidential signature before becoming law. If formally enacted, it is expected to enter into force on July 1, 2026.
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