Russia Passes Crypto Regulation Bill In First Reading
Cointelegraph
Russia's State Duma has passed a bill in its first reading to establish a regulated, state-supervised framework for digital currency trading.Summary
The Russian State Duma has moved forward with draft bill No. 1194918-8, which aims to create a core legal framework for digital currencies by channeling trading through licensed, Bank of Russia-supervised intermediaries. The legislation introduces strict retail investor limits, requires testing for access, and maintains a ban on using crypto for payments. While the bill passed its first reading, related measures proposing criminal penalties for non-compliance are currently stalled, with the Supreme Court labeling them premature until the overarching regulatory framework is fully established.
(Source：Cointelegraph)