Russia’s State Duma’s Financial Committee rejected multiple crypto regulatory-loosening amendments, with the second reading of the bill postponed to September

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Deep Tide TechFlow message: On July 17, according to Bits.media, the Russian State Duma’s Financial Market Committee has recommended rejecting multiple proposed lenient amendments to the government’s cryptocurrency regulatory bills, which are currently set to move to the second reading. The amendments recommended for rejection mainly include: raising the annual limit for non-professional investors to purchase cryptocurrencies through a single intermediary from 300,000 rubles to 600,000 rubles; expanding the range of tradable cryptocurrencies to those whose market cap exceeds 1 trillion rubles and whose average daily trading volume exceeds 100 billion rubles (the current draft requires a market cap of no less than 5 trillion rubles and a trading volume of no less than 1 billion rubles, and in practice allows only a very small number of coins such as BTC and ETH to be listed); allowing Russian citizens to use non-custodial crypto wallets; removing the mandatory review power of digital custodians over each transaction; and postponing the bill’s effective date to January 2027. The current version of the bill preserves the power of digital custodians to conduct per-transaction reviews and freeze transactions. The bill completed its first reading in April this year. It was originally planned to be passed before July 1, but has now been postponed to September 1, and the consideration of the supporting criminal liability bill will also not be earlier than September.
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