{"id":75112,"date":"2026-07-08T09:04:36","date_gmt":"2026-07-08T09:04:36","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/heres-what-the-law-now-says\/"},"modified":"2026-07-08T09:04:36","modified_gmt":"2026-07-08T09:04:36","slug":"heres-what-the-law-now-says","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/heres-what-the-law-now-says\/","title":{"rendered":"Here&#8217;s What the Law Now Says"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Russia\u2019s Duma committee approved the final crypto bill draft, with second and third readings eyed for July 21.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The revised text drops mandatory wallet-address reporting; only balances and transaction flows must be declared.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The Bank of Russia plans to cap retail purchases near $4,000 a year, limited to BTC, ETH and USDT from 2026.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>A Major Reform Is Underway<\/h2>\n<p>Russia\u2019s parliamentary Committee on Financial Markets has approved the final version of the country\u2019s sweeping digital currency bill, clearing the path for its second reading in the State Duma. The committee, chaired by lawmaker Anatoly Aksakov, signed off on a package of amendments that softens some of the draft\u2019s most contentious surveillance provisions while keeping the state firmly in control of who may buy and sell <span>crypto<\/span> assets.<\/p>\n<figure id=\"attachment_829538\" aria-describedby=\"caption-attachment-829538\" style=\"width:1049px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-829538\" class=\"wp-caption-text\">Image source: X<\/figcaption><\/figure>\n<p>The most notable change removes mandatory reporting of <span>crypto<\/span> wallet addresses. Under the revised text, holders must declare only balances and transaction flows, not the addresses themselves, a shift that follows months of pressure from lawmakers and industry groups who argued the original requirements went too far. The amendments also explicitly permit the legal purchase of digital currencies, anchoring a right that earlier drafts left ambiguous.<\/p>\n<p>Bill No. 1194918-8, titled \u201cOn Digital Currency and Digital Rights,\u201d passed its first reading with 327 of 340 deputies voting in favor. The second and third readings are now tentatively scheduled for July 21, according to Aksakov, who has said the law is expected to enter into force on September 1.<\/p>\n<h2>What the Law Would Do<\/h2>\n<p>The legislation sets out a comprehensive framework governing how <span>cryptocurrencies<\/span> can be issued, traded, and stored in Russia, marking the country\u2019s most ambitious attempt yet to bring a largely gray market under state supervision. Digital currencies and <span>stablecoins<\/span> would be recognized as monetary assets that can be bought and sold, though they remain barred from use in domestic payments.<\/p>\n<p>The framework dovetails with rules from the Bank of Russia, the country\u2019s central bank, which plans to restrict retail investors to <span>bitcoin<\/span>, ether, and the <span>USDT<\/span> <span>stablecoin<\/span>. Ordinary Russians would face an annual purchase cap of 300,000 rubles (less than $4,000) along with mandatory risk testing before they can trade. Additional rules needed to fully legalize coin transactions are expected by November, with the first regulated <span>crypto<\/span> operations projected to begin in early 2027.<\/p>\n<p>Lastly, lawmakers have pushed to allow withdrawals of digital assets to non-custodial wallets, which the current version of the legislation does not permit. Without that ability, one argument runs, \u201cthe owner\u2019s right to dispose of their property is effectively limited.\u201d<\/p>\n<h2>A Two-Track Digital Strategy<\/h2>\n<p>The <span>crypto<\/span> bill is advancing alongside Russia\u2019s other flagship digital money project, with the Bank of Russia <a href=\"https:\/\/news.bitcoin.com\/bank-of-russia-confirms-september-rollout-for-digital-ruble-with-top-banks-ready-and-connected\/\">confirming a September 1 rollout<\/a> for the digital ruble, its central bank digital currency ( <span>CBDC<\/span>). On the development, Governor Elvira Nabiullina stated that \u201ceverything is ready\u201d and that all 12 major pilot banks are connected. Large retailers with annual revenue above 120 million rubles must accept digital ruble payments from the same date.<\/p>\n<p>The parallel timelines are no accident, given that Moscow is racing to modernize its financial rails as sanctions continue to squeeze access to Western payment networks, and earlier drafts of the <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> framework drew attention for provisions supporting cross-border <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> payments.<\/p>\n<p>Legalized, supervised <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> trading gives the state a channel for external settlement, while the digital ruble extends control over domestic money flows, even as reports point to <a href=\"https:\/\/www.themoscowtimes.com\/2026\/07\/02\/russia-says-digital-ruble-ready-for-sept-1-launch-despite-weak-public-demand-a93155\" target=\"_blank\" rel=\"noopener noreferrer\">weak public demand<\/a> for the <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-are-central-bank-digital-currencies\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">CBDC<\/a> so far.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/russia-drops-wallet-reporting-from-its-final-crypto-bill-heres-what-the-law-now-says\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Russia\u2019s Duma committee approved the final crypto bill draft, with second and third readings eyed for July 21. The revised text drops mandatory wallet-address reporting; only balances and transaction flows must be declared. The Bank of Russia plans to cap retail purchases near $4,000 a year, [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":75113,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75112"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=75112"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75112\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/75113"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=75112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=75112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=75112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}