Russia's State Duma passed a comprehensive crypto regulation bill in first reading that classifies cryptocurrency as property, permits its use in foreign trade settlements to circumvent Western sanctions, while banning domestic ruble-denominated payments and capping non-qualified investors at 300,000 rubles ($3,900) annually. The legislation, set to take effect July 1, 2026, comes as Russia-linked networks processed at least $8 billion in sanctions evasion transactions and the ruble-pegged stablecoin A7A5 handled $70 billion in sanctions-related flows in 2025. The EU responded in February 2026 by banning all crypto transactions with Russia-based entities after sanctioned exchanges like Garantex reemerged as Grinex. The Bank of Russia will serve as licensing authority under the phased implementation running through July 2027.
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