Russia's Crypto Bill Advances: Cross-Border Trade Stays in Focus as Bitcoin Prints 5-Week High

Russia's push to bring digital assets into international commerce is moving forward, though not as quickly as first planned. After passing its first reading back in April, the government's crypto bill has been revised and cleared for its next stage. Russia's State Duma committee has approved a revised cryptocurrency regulation bill for its second reading, removing a proposed requirement to declare crypto wallet addresses while adding provisions for crypto-funded investments and new transfer controls.

The headline feature for businesses is unchanged: crypto stays banned for domestic payments but is permitted for cross-border trade. Meanwhile, Bitcoin is flashing strength of its own, closing above key long-term support for a third straight week. Below, we cover both the regulatory update and what the BTC chart is signaling.

Where does Russia's crypto bill actually stand right now?

It has passed one of three required readings. The bill, formally titled "On Digital Currency and Digital Rights," passed its first reading with 327 of 340 deputies voting in favor. Since then it has been reworked. Russia's Financial Markets Committee approved the revised bill for its second reading, with Chairman Anatoly Aksakov saying the proposal removes wallet address reporting while strengthening legal protections for crypto owners.

Importantly, the second-reading floor vote hasn't taken place yet. The committee endorsement was announced through Aksakov's Telegram channel, and records on the State Duma website had not yet been updated since the bill cleared its first reading in April. Two Duma readings, Federation Council approval, and a presidential signature are still required before it becomes law.

What changed in the revised bill?

Several things. The updated draft no longer requires cryptocurrency holders to declare wallet addresses; instead, users would only need to report wallet balances and transaction volumes. Aksakov said the revision is intended to reduce the risk of sensitive information being exposed in ways that could be used against Russia.

New investment and control provisions were also added. Investors would be allowed to purchase Russian securities and Digital Financial Assets using cryptocurrencies, and licensed Russian brokers and asset managers could eventually gain access to approved foreign crypto exchanges, subject to additional conditions. Retail investment limits remain unchanged, while the bill introduces a new provision allowing authorities to delay certain large outbound crypto transfers for up to two days. The retail cap holds at 300,000 rubles annually.

Why does the cross-border trade angle matter?

Because it hands Russian companies a settlement route outside sanctioned banking channels. The bill maintains crypto's ban for domestic payments while carving out its use in foreign trade and, in the revised text, covering investor eligibility, consumer protections, cross-border crypto transactions, and the use of digital assets in Russia's financial markets. The scale is significant: Russian exporters and importers moving goods across an estimated $240 billion in trade volume and facing payment friction would gain a legal pathway to settle contracts in cryptocurrency.

Only major assets are expected to qualify. Only cryptocurrencies with market caps above 5 trillion rubles (around $66.6 billion) and a five-year trading history would be eligible, with Bitcoin and Ethereum the expected first approvals.

When will the law take effect?

Later than originally targeted. Finance ministry official Alexey Yakovlev told Interfax the bill is largely ready but unlikely to be adopted by the initial July 1, 2026 target, having been sent back for committee review before its second reading. No firm replacement date has been confirmed, so the timeline now hinges on how quickly the remaining readings and approvals proceed.

Bitcoin Price Analysis: Why s Bitcoin Price UP?

Bitcoin just delivered its highest weekly close in five weeks. More notably, $BTC closed above its 200-week moving average support for the third consecutive week — resilience that stands out given the Nasdaq 100 fell more than 4% over the same period. That divergence from tech equities at a major support zone is exactly what bulls want to see.

The technical picture is constructive. The MACD has turned bullish, the RSI bullish divergence remains valid, and the Stochastic RSI is showing positive momentum. The bullish engulfing candle from three weeks ago is also still holding — a pattern that has appeared three times this cycle, each time followed by a strong rally.

Which Bitcoin levels matter most?

The map is clean on both sides. Resistance sits at $67,000, then $83,000. Support sits at $58,000, then $49,000.

Two scenarios stand out. If BTC holds above $58K, it could break toward $67K and then $83K. If instead BTC closes below $58K on the weekly chart, the next meaningful support is around $49K. With price currently trading near $64K, the $58K weekly close is the line in the sand to watch.