Russia Advances Comprehensive Crypto Regulation Bill

The State Duma's approval of the digital currency regulation bill marks a significant step towards formal oversight of Russia's crypto market.

The bill, which sets out a comprehensive framework for issuing, trading, and storing cryptocurrencies, defines key legal concepts and establishes categories of regulated participants.

Market entities must obtain licenses and operate under supervision from the Bank of Russia, with the central bank gaining authority to authorize, regulate, and oversee these entities.