Russia Advances Crypto Regulation Bill with Retail Investor Limits

Russia's push towards regulating its cryptocurrency market continues with the passage of a key bill in the State Duma.

The legislation, which is part of a comprehensive package aimed at restricting crypto trading to regulated platforms, would introduce investment limits for retail investors and allow purchases only of the most liquid digital currencies as defined by the Bank of Russia.

Key provisions include capping purchases through a single intermediary at 300,000 rubles ($4,000) per year and requiring residents to report transactions involving foreign accounts to tax authorities.