Russian State Duma Approves Final Version of Crypto Regulatory Bill, Removes Mandatory Wallet Address Reporting Requirement

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ME News, July 8 (UTC+8), the Russian State Duma Committee on Financial Markets has approved the final version of the government's cryptocurrency regulation bill, which will be submitted for second reading. Committee Chairman Anatoly Aksakov revealed that the second reading version includes several key adjustments: the requirement to mandatorily report crypto wallet addresses has been removed, replaced with only reporting balances and transaction flows, to protect residents from the risk of sensitive information leakage; new amendments allow the use of cryptocurrencies to legally purchase securities on the securities market and Russian digital financial assets; in the future, it may allow Russian legal brokers and asset managers to trade on foreign crypto exchanges, but must meet additional requirements such as the "friendliness" of the jurisdiction. For non-professional investors, the annual limit through a single intermediary is 300k rubles, and is limited to the "most liquid cryptocurrencies." The bill also introduces a two-day freeze on large transfers abroad and to third parties. Aksakov did not clarify whether the proposal to ban Russians from using non-custodial crypto wallets is retained. (Source: PANews)
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