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Russia crypto bill sets investment caps and cross-border transaction rules

Russia\'s State Duma plans to take up a bill regulating the cryptocurrency market for second and third readings on July 22. If passed, the bill would establish a legal framework for crypto activity, including investor rules and standards for cross-border transactions. It sets annual purchase and overseas transfer limits by investor type, and would create legal conditions for Russian companies to use crypto in foreign trade. Key provisions are expected to take effect on Sept. 1.