Russia Crypto Bill Moves Closer to Second Reading After Committee Approval

Highlights:

• Russia’s crypto bill moves closer to second reading after lawmakers backed the draft for further review.
• The bill adds court protection, safer wallet reporting, fraud checks, and limits for regular investors.
• New rules may let Russian brokers access foreign crypto exchanges under strict investor protection conditions.

Russia’s crypto regulation bill has moved one step closer to its second reading in the State Duma after the State Duma Financial Market Committee approved the draft for further consideration. According to TASS, on July 7 the committee recommended that the lower house of parliament adopt the bill on its second reading.

The bill is officially titled “On Digital Currency and Digital Rights.” The Russian government originally introduced the draft to the State Duma on April 1. Lawmakers approved it in the first reading on April 21, and the latest committee approval prepares the document for the next major stage in parliament.

🐋 WHALE WATCH: Russia is making a massive pivot on crypto. The Financial Market Committee has cleared the final version of its crypto bill and the implications for institutional liquidity are huge.

The biggest wins ?

1. No more mandatory wallet address reporting privacy win.… pic.twitter.com/QtfMG34oNj

— Whale Factor (@WhaleFactor) July 8, 2026

The bill has not become law yet. In Russia’s legislative process, a bill usually needs to pass further readings before it can move ahead for final approval. However, the committee’s support shows that lawmakers are moving forward with a formal framework for crypto activity in the country.

Anatoly Aksakov, head of the State Duma Financial Market Committee, said several amendments were added before the second reading. These changes focus on court protection for crypto holders, privacy for foreign crypto wallets, and stronger safeguards against fraud. 

One important amendment would give crypto owners court protection for their rights to cryptocurrency. According to Aksakov, this protection would apply even if the crypto had not been declared earlier. This would give users a clearer legal route if disputes arise over their digital assets.

New Rules Aim to Make Russia’s Crypto Market Safer and More Transparent

The bill also proposes a softer way to report foreign crypto wallets. Russian residents would not have to share full wallet addresses. Instead, they would only report the balance and transaction turnover. Aksakov said this would help protect sensitive data from being leaked or misused.

The draft also adds new steps to protect users from fraud. Crypto exchange services would have to send purchased cryptocurrency only to the buyer’s own account. Digital depositories could also pause large transfers going abroad or to third parties for 48 hours. This short delay would give users time to review the transaction and stop it if they suspect fraud.

Moreover, the bill distinguishes between qualified and unqualified investors. Unqualified investors will be permitted to invest up to 300,000 rubles per year in the most liquid cryptos through intermediaries. Qualified investors will have access to more crypto assets. In order to participate in the regulated cryptocurrency market, both kinds of investors should pass a special test.

Bill Could Open Access to Foreign Crypto Exchanges Under New Rules

Another part of the bill covers how Russian brokers and asset managers may work with foreign crypto exchanges in the future. Aksakov said this could help Russian clients access better prices and connect the domestic market with global crypto platforms.

At the same time, the draft keeps investor protection and data privacy as key priorities. Access to foreign exchanges may depend on additional conditions, including the foreign platform’s location. If passed, the bill would be one of Russia’s most important steps toward formal crypto regulation.