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Russia’s State Duma Reviews Bill to Monitor Crypto Transactions Above 1 Million Rubles

Russia’s State Duma Reviews Bill to Monitor Crypto Transactions Above 1 Million Rubles

Russia’s pending crypto bill would expand central bank control by restricting access to certain foreign exchanges and capping annual purchases for non-professional investors, with key second-reading provisions expected from July 1.

Fact Check
All three core elements of the claim are strongly corroborated by multiple independent sources. First, the 1 million ruble monitoring threshold is confirmed by both the PANewsLab source (019e3db7) and the Phemex article, which describe a companion/supplementary bill before the State Duma requiring operators to monitor and report crypto transactions above this threshold to the Central Bank. Second, the expansion of Central Bank of Russia control is confirmed by the Cryptopolitan article, which details that the CBR will hold licensing authority, approve or ban transactions, restrict certain coins, and cap annual purchases for non-qualified investors. Third, the July 1, 2026 deadline for the legislation to be adopted is confirmed by both the Cryptopolitan and Bitcoin Magazine articles, with second-reading amendments having been due in late April/early May 2026. The minor nuance is that the 1 million ruble monitoring threshold comes from a supplementary bill rather than the main regulatory bill, but both are part of the same legislative package before the State Duma. The claim accurately and fairly summarizes the overall legislative situation.
Summary

Russia’s State Duma is considering a crypto market bill that would require monitoring of cryptocurrency transactions above 1 million rubles, or about $13,700, including customer identification, suspicious transaction screening, information sharing with government agencies, and coordination with the Bank of Russia. New details say Russia’s central bank plans to bar citizens from trading on foreign crypto exchanges that comply with international sanctions and would impose a 300,000-ruble annual crypto purchase cap on non-professional investors. Earlier reporting said the bill would be revised before its second reading to let the central bank set requirements for cryptocurrency transaction anti-money-laundering verification services, according to Finance Ministry official Alexey Yakovlev, while also requiring confidentiality around Russia’s financial infrastructure. Key provisions in the bill’s second reading are expected to take effect on July 1.

Terms & Concepts
  • Customer identification: A compliance process that verifies a user’s identity before allowing financial services or transactions, commonly used to reduce fraud and illicit finance.
  • Suspicious transaction screening: Monitoring and review procedures used to flag unusual or potentially unlawful activity, especially for anti-money-laundering compliance.
  • Crypto circulation: The movement, exchange, or organization of cryptocurrency use within a market or financial system.