Russia Advances Crypto Regulation Bill in First Reading

Russia's State Duma has approved a cryptocurrency regulation bill on its first reading, TASS reported. The draft would establish a legal framework for crypto market participants, with the Bank of Russia responsible for licensing and regulatory enforcement. Crypto exchanges, brokers and other financial institutions would be permitted to operate under the new rule set. The bill also proposes a tiered investor access regime. Non-qualified investors could face tight purchase limits, with reports indicating a cap of about 300,000 rubles for retail buyers. Professional investors would be exempt from these restrictions. The approach is designed to expand access while containing risk.