Russia’s State Duma, the lower house of parliament, has advanced a draft law on its first reading aimed at regulating digital currencies and overhauling the framework for digital financial assets, according to RBC. The bill passed with 327 of 340 deputies voting in favor.

Submitted by the government on April 1, the bill, formally titled “On Digital Currency and Digital Rights,” introduces five types of regulated organizations, including exchanges, brokers, management companies, depositories, and exchangers.

It also sets out requirements for investor participation and provides a framework governing how cryptocurrencies can be stored, traded, and exchanged.

Key features

Under the proposal, from July 1, 2026,…