Russia passes cryptocurrency bill on first reading; central bank to dominate market access.

CoinFeed reported on April 22 that, according to Cryptopolitan, the Russian State Duma passed the first reading of the bill "On Digital Currency and Digital Rights," which will legalize cryptocurrencies in Russia. The Central Bank of Russia will become the main regulatory body, responsible for issuing licenses, approving or prohibiting crypto transactions, and determining the legality of transactions. Cryptocurrencies are considered property, but are prohibited from being used domestically for payments for goods and services; the ruble (including the digital ruble) will remain the sole legal tender. Businesses can use cryptocurrencies for foreign trade settlements under sanctions. The bill must be passed by July 1, 2026, at which time ordinary Russian citizens can legally purchase digital assets through licensed intermediaries. Investors are divided into qualified and unqualified categories; unqualified investors must pass a test and have an annual purchase limit (the central bank proposes 300,000 rubles, approximately $4,000).