Svmuu News: The Russian State Duma is set to hold the second and third readings of a cryptocurrency regulation bill on Tuesday. Titled “Digital Currencies and Digital Rights,” the bill includes provisions on investor rules and cross-border payments.
The bill proposes restrictions for non-accredited investors, including an annual limit of 300,000 rubles—approximately $3,800—on cryptocurrency purchases through a single intermediary, and a limit of 100,000 rubles on transfers abroad. For qualified investors, the purchase limit is 3 million rubles, and the limit for overseas transfers is 1 million rubles.
If approved, the bill will establish a legal framework for cryptocurrency activities in Russia, covering rules for investors and cross-border trade operations. The bill’s main provisions are expected to take effect on September 1 and will allow companies supplying goods to Russia to use cryptocurrency assets.