Russia Takes Step Closer to Regulated Crypto Market

Russia's push towards a regulatory framework for digital currency has taken a significant step forward with the passing of a key bill in parliament. The legislation, which aims to establish a system where licensed intermediaries facilitate crypto trading under Bank of Russia oversight, was approved alongside a companion bill on Tuesday.

Under the proposed law, Russians will be able to buy and sell cryptocurrencies through approved intermediaries as early as July, while unlicensed platforms will be banned from operating in 2027. Retail investors will face restrictions, including limits on purchases and requirements for testing before they can participate in crypto trading.