Russia has approved landmark cryptocurrency legislation that introduces a broad regulatory framework for digital assets. The move comes while discussions over the U.S. CLARITY Act continue, with lawmakers facing a tight deadline before the August recess.
Russia Establishes a Crypto Regulatory Framework
According to a report from TASS, Russia’s State Duma has passed legislation governing the circulation of cryptocurrencies and digital rights across the country.
The new law outlines requirements for crypto exchanges, digital asset depositories and other market participants. It also defines the legal status of different types of crypto assets and sets rules for how investors and businesses may acquire them.
In addition, the legislation covers cryptocurrency issuance, mining activities and the responsibilities of information-system operators involved in issuing digital assets.
U.S. CLARITY Act Deliberations Continue
Russia’s progress comes as the United States continues to debate the CLARITY Act. The proposed bill aims to create a clear regulatory structure for the American cryptocurrency industry.
However, disagreements over several provisions have slowed the legislation’s progress. One of the most significant issues involved the inclusion of ethics rules for public officials.
Recent reports indicated that President Donald Trump agreed to support an ethics provision, potentially removing one of the main obstacles facing the bill. Despite this development, it remains uncertain whether the Senate will approve the CLARITY Act before its August recess.
Crypto Payments Remain Prohibited in Russia
Although the new legislation regulates crypto ownership and trading, it maintains Russia’s ban on using cryptocurrency as a domestic payment method.
The law also prohibits advertising or distributing information that promotes the use of digital assets to pay for goods and services inside the country.
However, several exceptions remain. Cryptocurrency may still be used for certain foreign trade settlements and in transactions involving digital assets, securities or digital rights.
Crypto acquired through mining may also be used in permitted cases. In addition, digital assets can be used to pay specific fees established under the rules of approved information systems.
Russian Crypto Law Takes Effect in September
The legislation will now be sent to President Vladimir Putin for approval. Once signed, the new regulatory framework is scheduled to take effect on September 1, 2026.
The law represents a major step toward formalizing Russia’s cryptocurrency market. However, the continued ban on domestic crypto payments shows that the government remains cautious about allowing digital assets to operate as an alternative to the national currency.
