Secondary analysis of Duma passage of bill 1194918-8. Frames cross-border settlement channel as formalizing sanctions circumvention infrastructure — politically charged framing. Aksakov (Financial Markets Committee) confirmed vote. Property recognition for digital assets; domestic payment ban retained. Sept. 1, 2026 licensing effective; full enforcement including criminal liability for unlicensed operators July 1, 2027. Implementing regs expected Oct–Nov.