State Duma advances bill to license exchanges, register miners, enable cross-border settlement

Russia’s State Duma moved a crypto bill to final readings. The draft sets rules for mining, exchange licensing, and cross‑border settlement.

The bill No. 636524-8 formalizes parts of the market already active in Russia’s economy. Duma materials confirm the advance and scope of measures. State Duma release.

What’s changing
- Industrial miners must join a state registry. Oversight increases. Legal status improves. Duma summary.
- Exchanges will need licenses to operate. Access narrows to approved entities. Duma summary.
- Cross‑border settlement gets a legal path for state‑approved users. Scope set by regulation. Primary source.

Why it matters for investors
- Mining: Registry clarifies taxation, energy use, and compliance for large operators. It may curb unauthorized farms, stabilize power contracts, and de‑risk capex. Duma release.
- Exchanges: Licensing defines who can run order books and custody. It can limit offshore access and channel volume to domestic, supervised venues. Primary source.
- Cross‑border: A sanctioned market is building formal crypto rails for selected trade. Impact depends on how narrow approvals are. Duma materials.

Key takeaways
- Regulation ≠ liberalization. Expect tighter oversight, not open access. Source.
- The move aligns crypto with national payment, energy, and sanctions policy. Source.
- Final text will set operational thresholds for miners, licensing standards for exchanges, and eligibility for cross‑border usage. Source.

TL;DR
- Duma advances crypto bill to final stage. Official notice.
- Covers mining registries, exchange licenses, cross‑border settlement permissions. Official notice.
- Signals integration of crypto into formal state frameworks with controlled access. Official notice.