Russia Plans Bill to Open Crypto to Retail: Report

Russia is reportedly preparing a bill to deregulate cryptocurrency, aiming to make it a "common occurrence" for everyday life, according to Anatoly Aksakov, chair of the State Duma’s Financial Market Committee. The proposed legislation would grant so-called unqualified (retail) investors limited access to crypto, capped at 300,000 rubles ($3,800), while "professional participants" meeting specific criteria could trade without restrictions. Aksakov also suggested cryptocurrencies could be used for international payments, especially amid sanctions following the invasion of Ukraine, as crypto is currently recognized as property but banned for payments. Separately, Anton Gorelkin, chair of the State Duma’s Technologies Committee, is pushing for new regulations for crypto exchanges to combat scams targeting Russians via platforms in neighboring countries, as exchanges are currently unregulated in Russia.

(Source：Cointelegraph)