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Russia passes new crypto market law 🪙
The State Duma has approved a comprehensive framework for cryptocurrency regulation. Most rules take effect on September 1.
- Only registered organizations can operate as crypto exchanges.
- Existing firms can continue without registration until July 1, 2027.
- Banks must refuse transfers if unauthorized exchanges are suspected.
- Retail investors face a $3,800 cap on purchases via licensed intermediaries.
- Qualified investors can buy any crypto without limits.
- Law preserves the ban on using crypto for local payments.
This move aims to help Russia navigate sanctions while regulating digital assets. How will this change the crypto landscape in Russia?