Russia finalizes bill to open up crypto market to non-qualified traders: report

Russia is nearing the finalization of a draft bill that will permit non-qualified investors to participate in the cryptocurrency market, according to Anatoly Aksakov, chairman of the State Duma's Financial Markets Committee. The bill, expected to be considered during the spring parliamentary session, removes cryptocurrencies from special financial regulation, making them commonplace. However, non-qualified traders will face purchase limits, restricted to 300,000 rubles ($3,800) worth of crypto, while professional participants will have no such caps. Aksakov also anticipates the legislation will enable the international use of crypto, including cross-border settlements and overseas placement of Russian-issued tokens. This development follows previous proposals from the Bank of Russia and the Finance Ministry to allow retail access with risk-awareness tests and volume caps to mitigate systemic risk.

(Source：The Block)