Russia Moves to Make Crypto ‘Everyday Finance’ as Lawmakers Prepare Retail Access Bill

Russia is progressing towards opening its cryptocurrency market to individual investors through new legislation. The proposed bill aims to remove crypto from its current restrictive regulatory framework and enable broader retail participation, albeit with limitations. Non-qualified investors will be able to purchase up to 300,000 rubles (approximately $3,800) worth of cryptocurrency. This move signals a shift in Russia’s approach, treating digital assets as a more conventional part of finance. The legislation also considers the use of cryptocurrencies for cross-border transactions and the potential issuance of tokens on foreign markets, offering alternatives to traditional financial rails. While the Bank of Russia has previously expressed concerns about systemic risks, the proposed framework reflects a balanced approach, prioritizing risk management alongside innovation and investor protection through transaction limits and potential risk-awareness tests.

(Source：Bitcoin Magazine)