Russia Approves First Reading of Bill for Licensed Cryptocurrency Gatekeepers

Russia is poised to implement a strict licensing regime for cryptocurrency intermediaries with the first reading of a new bill passing in parliament. This legislation signals a significant move by Moscow to gain greater control over its digital asset market, transitioning from an unregulated space to a highly regulated one. Key provisions are expected to take effect as early as July 2026, with full enforcement by July 2027. This development is set to have a substantial impact on both Russian cryptocurrency users and international businesses looking to participate in the country's digital economy. The bill aims to bring official oversight and order to the sector, fundamentally altering how digital assets are managed, exchanged, and protected within Russia. The move reflects a broader trend of governments seeking to regulate the rapidly evolving cryptocurrency landscape, with Russia taking a definitive step towards establishing a controlled digital financial ecosystem.