Russia Advances Crypto Regulation Bill with Licensing and Investor Restrictions

Russia is taking steps towards formalizing its approach to cryptocurrency regulation with the passage of a new bill through parliament's first reading.

The legislation aims to balance innovation with tighter control over market access by establishing rules for exchanges, brokers, and financial institutions operating in the sector.

Key provisions include the introduction of tiered access for investors, dividing them into qualified and non-qualified categories. Retail participants face limits on their purchases, capped at 300,000 rubles, which is roughly equivalent to $3,900. Professional investors would not be subject to these restrictions.