Russia's Duma Votes on Crypto Bill With a $3,800 Retail Cap
The State Duma's July 21 readings would set the terms for retail crypto buying in Russia, capped at 300,000 rubles ($3,800) a year per broker.
Russia's State Duma takes up a broad crypto bill for its second and third readings on July 21, the stage where a measure's wording gets locked and it usually passes. For retail buyers, the number that matters is 300,000 rubles, about $3,800. That is the annual ceiling an unqualified investor could put into crypto through any single brokerage, and only after passing a special qualification test.
A yes vote would move Russia from a patchwork of rules toward a single system covering retail access, enforcement against illegal use, and crypto's place in cross-border trade. The second and third readings are where amendments get folded in and the final text is adopted, so this is close to the last word, not an early signal.
What retail gets
Access comes fenced in. Unqualified investors would be limited to the most liquid crypto assets, with the actual list and the eligibility rules set out in separate legislation later. The design is two-track. Curb crime on one side, open a legal door on the other. Anatoly Aksakov, who chairs the Duma's Financial Markets Committee, laid it out at a press conference at the Rossiya Segodnya Center.
"On the one hand, we are creating a legal framework to combat the illegal use of cryptocurrencies within the country," Aksakov said. "On the other hand, we are providing legal opportunities for those who use cryptocurrencies in international relations."
Building on December
This does not start from scratch. In December, the Bank of Russia introduced a framework opening crypto to both qualified and unqualified investors, even as it kept classifying the assets as high-risk. The tension is baked in: the regulator warning that crypto is high-risk is the same one clearing a retail lane to buy it. According to TASS, the new bill goes further, targeting fraud and illegal transactions at home while defining the terms for using crypto in international trade and cross-border deals.
The catch is in what is still blank. The list of eligible coins and the criteria that qualify them come in later legislation, so even a clean vote on July 21 leaves the most basic question unanswered: which assets Russians can actually buy.
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Disclosure
Our stories are produced with a combination of human writers and AI tools, and every article is reviewed by a human editor before publication. Read more in our editorial policy. This article is for informational purposes only and is not financial, investment, or legal advice. Crypto assets are volatile and you can lose money — always do your own research.