Russia Moves Closer to Crypto Regulation: Final Parliamentary Readings Set for Tuesday
Russia's State Duma is entering the final stages of legislative approval for a landmark bill designed to regulate the cryptocurrency market. This critical step involves the second and third readings of Bill No. 1194918-8, which aims to establish formal rules for digital currency and digital rights, specifically targeting cross-border payments and investor oversight.
The proposed framework introduces a tiered system that distinguishes between qualified and non-qualified investors through strict capital limits. By imposing caps on annual crypto purchases and international transfers, the Russian government is signaling a move toward tighter control over digital asset flows, a decision that will heavily influence the future of crypto adoption within the nation.
The bill would introduce strict limits for non-qualified investors, including a 300,000 ruble ($3,800) annual limit on crypto purchases through a single intermediary and a 100,000 ruble limit for transfers abroad. Qualified investors would face significantly higher limits, with 3 million rubles allowed for purchases and 1 million rubles for international transfers.
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