Russia's State Duma to Conduct Final Readings on Cryptocurrency Bill, Core Provisions Effective September 1

According to BlockBeats, Russia's State Duma plans to conduct second and third readings of cryptocurrency bill No. 1194918-8 on Tuesday, with core provisions set to take effect on September 1.

The bill establishes a regulated trading framework for cryptocurrency in Russia. Non-qualified investors can purchase up to 300,000 rubles (approximately $3,800) in cryptocurrencies annually through a single intermediary, with cross-border transfers capped at 100,000 rubles. Qualified investors face higher limits of 3 million rubles and 1 million rubles respectively. Crypto trading platforms and intermediaries must verify investor identity and monitor transaction volumes. State Duma Financial Markets Committee Chair Anatoly Aksakov stated the law will create conditions for enterprises to use digital assets in trade settlements without excessive legal restrictions.