Russia Introduces Strict Regulations on Cryptocurrency Circulation

The Russian government has taken significant steps towards regulating the country's cryptocurrency market. As part of a draft law approved by the State Duma, licensing requirements will be introduced for intermediaries dealing with digital assets. This includes exchanges, brokers, trustees, and digital depositories.

The Bank of Russia will be responsible for issuing licenses and monitoring market participants. Intermediaries must obtain a license to operate in the market, and using their services will become mandatory for all other sellers.