On July 21, the State Duma adopted the law 'On Digital Currencies…
On July 21, the State Duma adopted the law 'On Digital Currencies and Digital Rights' in its third reading, which establishes comprehensive regulation of cryptocurrency circulation in Russia - from citizens purchasing through licensed intermediaries to exchange trading, clearing, and digital depositories.
Consensus
- Sber plans to launch a digital depositary by December 1, 2026.
- The digital depositary will track clients' rights to cryptocurrencies and handle transactions outside the main blockchain.
- Sber has participated in consultations with the Central Bank on crypto regulation.
- A new law on digital currencies and digital rights was adopted by the State Duma on July 21, 2024.
- The law will create a regulatory framework for cryptocurrency trading through licensed intermediaries and exchanges.
- Sber has experience in offering crypto-linked financial products since 2025.
- A pilot project for crypto-backed lending was completed by Sber in December 2025.
Points of divergence
- The law will enter into force on September 1, 2026; some provisions will take effect later: July 1, 2027 (for restrictions on transfers and regulation of non-resident depositaries), and September 1, 2027 (technical rules for issuance and circulation of digital assets). — vedomosti
- Sber plans to implement the infrastructure for crypto trading by December 1, 2026. — interfax
- Digital currencies will not be accepted for payment of goods and services within Russia. — kommersant
Coverage (3 sources)
- Sber intends to launch a digital depositary for cryptocurrencies by December — Ведомости
- Sber plans to create cryptocurrency trading infrastructure by December 1 — Интерфакс
- Sber announces launch of digital depositary — Коммерсантъ