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The Russian State Duma will hold a second and third reading review of the cryptocurrency bill on July 21.

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PANews July 20, citing TASS, reported that the Russian State Duma will hold a second reading and third reading vote on July 21 on a bill regarding the regulation of the cryptocurrency market within Russia. The bill was introduced by Anatoly Aksakov, chair of the Financial Markets Committee, and aims to establish a legal framework for the lawful use of cryptocurrencies in Russia while combating related scams and illegal uses. Under the regulatory concept previously proposed by the Bank of Russia, in addition to qualified investors, ordinary investors may also purchase highly liquid crypto assets designated by legislation after passing a test, but the annual purchase limit is capped at no more than 300k rubles per intermediary.
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