The bill licenses exchanges, caps retail investors at about $3,800 a year, and creates a legal pathway for Russian companies to pay foreign partners in crypto—bypassing Western sanctions.
- Russia's State Duma is close to passing its first comprehensive cryptocurrency law, which includes licensing for exchanges and a cap on retail investor purchases.
- The law aims to enable Russian companies to use crypto for international payments, bypassing Western sanctions, while restricting privacy coins and setting high market cap requirements for tradable cryptocurrencies.
- Unlicensed platforms will face a ban, and the legislation aims to complete Russia's regulatory framework for digital assets, complementing its existing crypto mining law.
Topics: Jurisdictions, Legal regulatory, Blockchain usage, Emerging hubs, Regulatory sandboxes pilots, Enforcement actions litigation, Non evm chains
Tags: #russia #cryptocurrencylaw #stateduma #bitcoin #ethereum #sanctions #aml #licensing #retailinvestors #internationaltrade