The Russian State Duma has approved Bill No. 1194918-8, titled "On Digital Currency and Digital Rights," which aims to establish a comprehensive regulatory framework for the cryptocurrency market. Passed in its second and third readings on July 21, the bill outlines licensing requirements for crypto trading platforms, brokers, asset management firms, and custodians. It permits the use of digital assets for foreign trade but maintains a ban on their use for domestic payments. The legislation is set to take effect on September 1, 2026, with certain regulations having a transition period until July 1, 2027. Before becoming law, the bill requires approval from the Federation Council of Russia and the signature of President Putin.