The State Duma of the Russian Federation has finally legalized cryptocurrencies: a new law recognizes them as property.
A Russian legislator has taken a historic step: the State Duma adopted the law "On Digital Currency and Digital Rights" in the second and third readings simultaneously. This document fundamentally changes the legal landscape for crypto investors in the country.
Key Provisions of the Law
According to the adopted act, digital currencies are officially recognized as property. This means that cryptocurrencies are no longer in a "gray zone"—they receive a full legal status similar to other assets. The law introduces uniform rules for the circulation of cryptocurrencies, creating a predictable environment for market participants.
Of particular note is the provision on judicial protection of rights to digital assets. Now, cryptocurrency owners can defend their interests in court regardless of whether they previously declared these assets. This removes one of the main fears of investors—the risk of losing rights due to formal reporting violations.
Practical Implications for the Market
To come into force, the law must be approved by the Federation Council and signed by the president. After that, Russians will gain a legal opportunity to invest in cryptocurrencies through Russian exchanges, brokers, and trust managers. This opens the way to institutional adoption of digital assets in Russia.
As a leading analyst at Cryptalist, I assess this step as strategically sound. Legalizing cryptocurrencies by recognizing them as property creates a solid legal foundation that will attract both retail and institutional investors. However, it is worth remembering that regulation always carries risks—overly stringent reporting or taxation requirements could reduce the appeal of the new regime. The market will closely monitor the final wording of the law after it is signed.