Russia moves crypto bill to give central bank control, license firms, cap retail buys and bar local payments

Russia’s State Duma advanced a draft crypto law in its first reading that assigns the Bank of Russia primary regulatory authority and includes provisions governing cross‑border use of digital assets ^{[1] [2]}.

The proposal establishes a central‑bank‑led licensing framework for crypto market operators and sets strict limits on retail investor purchases while providing broader access for professional traders, according to reporting on the draft’s investment caps and licensing rules ^{[3] [2]}.

The bill also recognises digital assets as property but would prohibit their use for domestic payments, per coverage of the draft legislation; the measure will proceed through further parliamentary readings after the first reading ^{[4] [1] [2]}.

If enacted, the framework would centralise oversight at the Bank of Russia, introduce licensing and investor limits, and maintain restrictions on domestic crypto payments as the bill moves through subsequent readings ^{[1] [3] [4] [2]}.