Russia Passes Major Crypto Bill, Sending Rules to Putin

Russia is finally getting a clear legal framework for cryptocurrency. The State Duma officially passed Bill No. 1194918 8 during its second and third readings. Lawmakers designed these rules to classify digital assets as property, bringing official oversight to the local market for the first time.

While the new laws officially recognize crypto holdings, they maintain a strict ban on using digital currencies for everyday retail payments within the country. This means citizens can own and trade digital assets as property, but businesses cannot accept them to buy goods or services.

The bill now heads straight to President Vladimir Putin's desk for his final signature before it becomes official law. Traders and local companies should watch for the final signing and see how regulators plan to enforce the property tax rules.