Bitcoin Price Jumps as Russia Sets July 21 for Crypto Bill Votes
Bitcoin (BTC) price jumped by about 2% in 24 hours to $65.52k on Monday as the market reacted positively to news that Russia’s parliament has advanced the crypto regulation bill to its final stage.
BTC trading volume increased sharply on the day, up by 78% with about $28 billion in transaction value, according to data from the cryptocurrency.
Bitcoin’s latest news blends regulatory breakthroughs with cautious price consolidation, setting the stage for its next institutional chapter.
Russia’s State Duma is set to hold second and third readings of the Russian crypto bill on Tuesday, July 22, 2026. The draft legislation, titled “On Digital Currency and Digital Rights,” would formally allow companies to use cryptocurrencies for cross-border settlements.
The revised cryptocurrency bill has cleared a key committee stage, removing wallet address declarations and allowing crypto use in cross-border trade while banning domestic payments.
The bill also permits crypto-funded investments and introduces controls on large outbound transfers. This move aims to provide Russian exporters and importers a legal way to settle international contracts amid sanctions.
Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, confirmed the schedule to RBC. If passed, the main provisions take effect September 1, 2026.
The legislation treats crypto as property, not legal tender. That distinction matters: the Russian ruble remains the only lawful currency for domestic transactions.
Crypto use is strictly limited to cross-border trade, a targeted response to the SWIFT access restrictions that followed 2022 sanctions. Trade partners like China and Turkey are expected to be the immediate beneficiaries.
Bitcoin is showing bullish technical signals, holding above key support levels and suggesting potential price gains ahead. The law’s final approval is delayed beyond the initial mid-2026 target, pending further readings and approvals. Bitcoin Tops $65k on BlackRock Clients’ Purchase, Taiwan Reserve Plan
