Crypto Market Outlook: Russia Passes Crypto Law, CLARITY Act Lags
Key Insights:Russias State Duma approves rules for exchanges, custody, investors, and foreign trade settlements, reshaping the crypto market.Non-qualified investors face annual limits as regulated institutions gain a formal framework.US regulatory delays may divert some crypto investment toward clearer overseas markets. Russia has moved closer to establishing its first comprehensive framework for the crypto market. The State Duma approved the digital currency bill during its second and third readings on July 21. The vote comes as the United States continues negotiating the CLARITY Act. The US bill seeks to define oversight responsibilities between the SEC and CFTC, but it has not cleared the Senate. Russia Crypto Law Reshapes the Crypto Market The Russian crypto law establishes rules for exchanges, brokers, digital depositories, asset managers, and other intermediaries. Companies offering exchange services must eventually join a special regulatory registry. Russia Crypto Law Announcement| Source: TASS Existing operators receive a transition period until July 1, 2027. Most provisions are expected to take effect on September 1, 2026, subject to further legislative approval and the presidents signature. The framework also gives the Bank of Russia a central supervisory role. The regulator will oversee eligible market participants and determine how approved digital assets reach investors. This could move the crypto market away from