Russia’s Financial Market Committee has approved the final version of its crypto bill for a second parliamentary reading, advancing the country toward a comprehensive legal framework for cryptocurrencies. The revised bill removes mandatory reporting of crypto wallet addresses and introduces a 300,000-ruble annual cap on cryptocurrency investments for retail investors. Once enacted, the legislation would formally recognize cryptocurrencies as legal property while placing most crypto activity under state supervision.
The bill still requires passage through the second and third readings in the State Duma, followed by approval from the Federation Council and the signature of President Vladimir Putin. Lawmakers have also postponed the originally proposed implementation date from July 1 to a later unspecified date.
