The Russian State Duma has passed the crypto market regulatory bill, but it still requires President Putin's signature to officially become law.

TechFlow news, July 21: On July 21, the Russian State Duma passed Bill No. 1194918-8 "Digital Currency and Digital Rights" during the second and third readings, proposing to establish a licensed regulatory framework covering crypto trading platforms, brokers, asset management institutions, and custody institutions, and stipulating operational requirements for relevant enterprises. The bill allows digital assets to be used for foreign trade, but still prohibits their use for payment for goods and services within Russia.

The main provisions of the bill are expected to take effect on September 1, 2026, with a transition period for certain regulations set until July 1, 2027. After passing the State Duma, the bill still requires deliberation by the Federation Council of Russia and signature by President Putin before it can officially become law.