Russia's Crypto Revolution: Landmark Bill Heads to Putin's Desk

Russia's State Duma has officially advanced Bill No. 1194918-8, establishing the nation's first comprehensive legal framework for cryptocurrency. By classifying digital assets as property, this legislative milestone provides much-needed legal certainty for holders, signaling a major shift in how the Russian government perceives the blockchain ecosystem.

Despite the progress, the bill maintains a strict boundary by prohibiting the use of digital currency for everyday payments. This regulatory approach aims to integrate digital rights into the national economy while ensuring that the central bank retains control over the traditional monetary supply, creating a controlled environment for crypto adoption.

According to Rossiyskaya Gazeta, lawmakers approved the bill through its second and third readings. This move is seen as a critical step in formalizing the status of digital assets within Russia, offering a structured legal path for property rights while maintaining strict oversight on how these assets interact with the domestic economy.