Russia’s Crypto Bill Set for Second and Third Readings in State Duma

The Russian State Duma is scheduled to hold the second and third readings of the Digital Currency and Digital Rights bill on July 21. The proposed legislation aims to create a regulatory framework for cryptocurrency trading, custody, investor access, and cross-border settlements, bringing relevant platforms and intermediaries under the supervision of the Central Bank of Russia.

The bill will continue to prohibit the use of cryptocurrencies for payments of goods and services within Russia, but it seeks to expand their use in import and export trade settlements. Ordinary investors may face an annual purchase limit of 300,000 rubles.