Russia Is Advancing a Bitcoin Property Bill With a July 1 Deadline as Sanctions Bite

Key Takeaways

• Russia is advancing a bill that recognizes Bitcoin as property and permits its use in foreign trade, with a July 1, 2026, target date
• Only Bitcoin and Ethereum currently meet the bill’s market cap and trading history requirements
• Domestic crypto payments remain banned, but the foreign trade exemption could help Russian firms navigate sanctions-related payment restrictions

Russia is moving closer to giving Bitcoin (BTC) a formal role in international trade. Deputy Finance Minister Ivan Chebeskov said a bill recognizing Bitcoin as property and permitting its use in foreign trade transactions remains a legislative priority. July 1, 2026, is the target they are aiming for and is now less than three weeks away. The proposal arrives as Russian businesses continue searching for alternatives to traditional banking channels. Many of these have become harder to access under Western sanctions.

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Why Only Bitcoin and Ethereum Qualify, and Iran Already Accepts BTC for Transit Payments

The bill passed its first reading in the State Duma in April with overwhelming support. It received 327 votes in favor. If enacted, it would formally classify cryptocurrency as property under Russian law while allowing approved digital assets to be used for cross-border settlements.

The eligibility requirements are quite narrow. Only cryptocurrencies with a market capitalization above 5 trillion rubles, or roughly $66.6 billion, and at least five years of verified trading history would qualify. At current market levels, that effectively limits participation to Bitcoin and Ethereum (ETH).

Domestic crypto payments would remain prohibited, with the ruble retaining its status as Russia’s only legal tender. The exception is foreign trade, where Russian companies could use digital assets to settle transactions with overseas counterparties outside traditional banking networks.

This is central to Moscow’s strategy. According to Russian lawmakers, the framework is designed to ease payment bottlenecks that emerged after sanctions disrupted access to parts of the global financial system, including SWIFT.

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Russia’s Trade Pivot Mirrors Moves Already Seen in Iran

Russia is not the first sanctioned economy exploring crypto-based trade infrastructure. Iran has already incorporated Bitcoin foreign trade payments into parts of its transit and logistics network. It is providing a real-world example of how digital assets can be used beyond speculation.

Supporters of the bill argue that recognizing Bitcoin as property also brings legal clarity. Crypto holdings could receive protection in court proceedings, including bankruptcy and asset disputes, rather than remaining in a legal gray area.

The legislation is also part of an effort to bring digital assets into Russia’s legal and tax framework. Alongside recognizing cryptocurrency as property, lawmakers have discussed measures aimed at reducing the tax burden on certain crypto activities. This move, supporters say, could encourage greater participation through regulated channels rather than informal markets.

Russia’s proposed crypto law still faces two additional readings in the State Duma. This is followed by approval from the Federation Council and a presidential signature. But the direction of travel appears increasingly clear. Rather than embracing crypto for everyday payments, Russia is building a regulated framework where Bitcoin and Ethereum serve a specific purpose.

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