Russia Passes Crypto Legislation as U.S. CLARITY Act Deliberations Drag On
Highlights
- Russia's State Duma has passed a law that provides a comprehensive framework for crypto assets
- The law addresses issues as such as crypto tax, mining, issuance, and ownership.
- The law is set to go into effect on September 1.
Russia’s legislature has passed a landmark crypto legislation that provides a comprehensive regulatory framework for crypto assets. The passage of this crypto law comes as the U.S. Senate delays in passing the CLARITY Act, which currently faces a tight deadline before the August recess.
Russia Passes Landmark Crypto As CLARITY Act Talks Drag On
According to a TASS report, Russia’s State Duma, the lower house of parliament, has passed a law that provides a comprehensive framework for the circulation of crypto assets and digital rights in the country. The crypto law also establishes rules for crypto exchanges, digital depositories, and market participants.
Furthermore, the legislation provides clarity on the status of different crypto assets and purchases of these assets by market participants. It also includes provisions related to crypto issuance. mining, and activities of operators of information systems issuing crypto assets.
This landmark Russian crypto law comes as the U.S. continues to deliberate on the CLARITY Act, which also provides a comprehensive framework for the U.S. crypto industry. Issues such as the inclusion of an ethics provision have so far served as obstacles to the bill’s passage.
However, as CoinGape reported, President Trump agreed to an ethics provision in the CLARITY Act, providing a major breakthrough in deliberations on the crypto bill. It remains uncertain if the Senate will pass the bill before their August recess.
Ban On Crypto As A Payment Means Remains
The Russian crypto law has maintained the ban on crypto as a means of payment within the country. The legislation also prohibits the dissemination of information, including advertising, payment of goods and services using crypto.
There are exceptions to the ban on crypto payments, including for settlements of foreign trades. Crypto payments are also permitted when obtained through mining, for payment of fees stipulated by the rules of the relevant information system and for trade settlements involving securities, crypto assets, or digital rights.
The crypto law will head to President Putin’s desk for his assent. Meanwhile, the law will come into effect on September 1 later this year.
For more information on crypto trading in Europe, please check out our page on 8 Best Regulated Crypto Exchanges in Europe in July 2026 – MiCA Compliant List
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