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Crypto
Russia passes first reading of bill to bring cryptocurrencies into formal sector
Russia is pushing a bill to bring cryptocurrencies into the formal sector while tightening controls. The State Duma passed a first reading of the “Digital Currency and Digital Rights” bill, which would legalise crypto but concentrate oversight with the central bank. Digital asset firms would need licences, crypto would be treated as property but barred as a payment means, and individual investors would face eligibility tests and annual caps. Only large, established coins could initially trade.
Crypto
Russia caps retail crypto purchases at 300,000 roubles a year, allows only high-liquidity coins
Russia has approved a package of bills to cap annual cryptocurrency purchases by ordinary citizens at 300,000 roubles and to limit non-professional investors to high-liquidity cryptocurrencies pre-approved by the central bank. The cabinet also backed licensing rules for platforms, exchanges and other intermediaries, while banning trades outside authorised brokers. Overseas purchases would be partly allowed but must be reported to the Federal Tax Service.
Crypto
Russia government to pursue separate stablecoin bill
Russia\'s finance ministry is considering pursuing a separate bill to regulate stablecoins rather than including provisions in the existing law that regulates cryptocurrency trading. A finance ministry official said stablecoins have enormous potential. Russia is also reviewing ways to use stablecoins to bypass sanctions. Russian law currently has no clear legal definition of stablecoins, and discussions will continue with the central bank and market participants.
