Russia's State Duma approved a regulatory framework allowing crypto-to-securities exchanges domestically while maintaining a ban on cryptocurrency payments.
Regulation & Gov ·
Russia's State Duma has approved a legislative framework permitting the domestic exchange of cryptocurrency for securities recognized under the country's regulatory system. The bill advanced through both its second and third readings in parliament, establishing the conditions under which such conversions may occur. Alongside this permission, the framework maintains an existing prohibition on using cryptocurrency as a medium of payment within Russia.
The approval signals a shift in Russia's regulatory posture toward digital assets, carving out a specific permitted use case for crypto-to-securities conversion while leaving the broader payment restrictions in place. The distinction between allowing asset swaps and blocking payment functionality suggests policymakers aim to enable participation in regulated securities markets without extending cryptocurrency's acceptance as tender.
Details on implementation timelines, which securities qualify under the framework, and how exchanges will be licensed or supervised have not been specified in available reporting.