The Russian State Duma is set to conduct the second and third readings of a significant cryptocurrency regulation bill on July 21. Introduced by Anatoly Aksakov, chairman of the Financial Market Committee, the bill seeks to establish a legal framework for the use of cryptocurrencies in Russia, aiming to curb fraud and illegal activities. Under the proposed regulations, both qualified and ordinary investors will be allowed to purchase highly liquid crypto assets, as defined by legislation. However, ordinary investors must pass a test and will face an annual purchase limit of 300,000 rubles per intermediary institution, in line with the Russian Central Bank's regulatory concept.