Russia's State Duma to vote on crypto regulation bill establishing legal framework for authorized crypto use and limiting non-qualified investor purchases.
Regulation & Gov ·
Russia's State Duma is scheduled to vote on a cryptocurrency regulation bill during its second and third readings on July 21, according to reporting on the legislative session. The measure would create a legal framework for crypto activity, tighten controls on illicit use, and enable authorized cryptocurrency transactions in international dealings.
The proposal includes provisions governing retail investor participation in digital assets. Non-qualified investors would be permitted to purchase selected liquid cryptocurrencies after completing a qualification test, though they would face an annual spending cap of RUB 300,000 per intermediary. The framework aims to balance market access with consumer protection by restricting exposure for less-experienced buyers.
The outcome of the July 21 vote remains to be determined, along with any amendments that may be introduced during the readings or how swiftly the bill could be implemented once passed.