Russia signs federal digital-currency law
Russia enacted a federal law defining digital currency and digital financial assets while restricting the use of digital currency as payment for goods and services.
Federal Law No. 259-FZ was signed on July 31 after passage by the State Duma and approval by the Federation Council. The law created a legal framework for 'digital currency' and 'digital financial assets' rather than simply banning cryptocurrency.
For Bitcoin users, the distinction was mixed: ownership and certain transactions could exist within the legal framework, but Russian residents and companies were restricted from accepting digital currency as payment for goods, work or services under the law's structure.
The measure was an important example of a major state recognizing cryptocurrency as a legal category while simultaneously limiting its monetary use.
The law did not make Bitcoin legal tender or authorize it as ordinary money. Instead, it created a statutory framework for digital financial assets while maintaining Russia’s monetary monopoly over the ruble. That distinction is important because the measure combined legal recognition of digital assets with meaningful restrictions on their domestic payment use.