Russia’s parliament to hold final readings on crypto bill Tuesday
Summary
Russia’s State Duma is set to approve a bill regulating cryptocurrency, with second and third readings scheduled. The draft law would create a legal framework for digital currency use, including investor rules and cross-border crypto trade. Non-qualified investors would face annual limits of 300,000 rubles for crypto purchases through one intermediary and 100,000 rubles for transfers abroad. Qualified investors would have higher caps of 3 million rubles for purchases and 1 million rubles for foreign transfers. If passed, the main provisions would take effect on Sept. 1. The law is also intended to let companies involved in supplying goods to Russia use crypto with fewer legal restrictions.
