Russia's Duma Passes Crypto Regulation Bills First Reading 327-0 as Bitcoin Nears $79K

Russia’s State Duma officially passed first readings of draft bills No. 1194918-8 and 1194929-8 with 327 votes, targeting July 1, 2026 rollout under Central Bank oversight. Initially advanced on April 22, the measures legalize mining and cross-border crypto payments while banning domestic use, capping non-qualified retail at 300,000 rubles (~$4,000) annually per intermediary for liquid assets like Bitcoin—requiring 5 trillion rubles market cap, 1 trillion rubles daily volume over two years, and five-year history—plus investor testing. Bitcoin trades around $78,955-$79,000 in a mixed outlook: short-term retail curbs may pressure liquidity, but institutional clarity offers upside potential.