The Russian State Duma's Financial Market Committee has approved the final version of a crypto regulation bill, which will proceed to a second reading. Key changes include the removal of mandatory crypto wallet address reporting, now requiring only the declaration of balances and transaction flows to safeguard sensitive information. The bill also permits the legal purchase of securities and Russian digital financial assets with cryptocurrency.
Additionally, licensed Russian brokers and asset managers may be allowed to trade on foreign crypto exchanges, contingent on jurisdictional "friendliness." For non-professional investors, an annual limit of 300,000 rubles is set through a single intermediary, with trading restricted to highly liquid cryptocurrencies. The bill introduces a two-day freeze on large transfers to overseas and third-party accounts, though it remains unclear if the ban on non-custodial wallets will persist.
Russian State Duma Advances Crypto Bill, Eases Wallet Reporting
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
