Russia Prepares Comprehensive Crypto Regulation Bill

The Russian government has taken steps to regulate the country's cryptocurrency market, proposing a bill that introduces new restrictions on exchanges and investor access.

The legislation, which is expected to come into force by July 1, 2025, aims to legalize various crypto-related activities in Russia. According to the draft law, eight existing institutions will be granted permission to provide exchange services for cryptocurrencies like Bitcoin. These institutions include the Moscow Exchange (MOEX) and the St. Petersburg Exchange (SPB), which already have licenses for traditional market operations.

The new rules will also govern who can buy and trade cryptocurrencies in Russia. Both qualified and non-qualified investors will be granted access to the market, but those who are not qualified will face a number of restrictions. The bill proposes capping total annual purchases at a figure yet to be specified, with transfers between different wallets of the same person exempted from these limits.