Chairman of the Russian State Duma Financial Market Committee: Cryptocurrencies are expected to become a daily-use tool for Russian residents

Odaily Planet Daily reports that Anatoly Aksakov, Chairman of the Russian State Duma Committee on Financial Market, stated that a bill aimed at removing cryptocurrencies from the “special financial regulation” framework has been completed and prepared, which may promote cryptocurrencies to become a common phenomenon in the lives of Russian residents in the future.

Aksakov said in an interview with Russian state television that the State Duma will focus on discussing issues related to digital financial assets and cryptocurrencies during the upcoming spring session. According to the proposed bill, cryptocurrencies will no longer be considered as objects of special regulation, and their use cases will become more normalized.

He also pointed out that the bill allows non-professional investors to participate in the cryptocurrency market, but sets a limit: individuals’ purchases of digital currency must not exceed 300,000 rubles; professional financial market participants are not subject to this restriction. Additionally, cryptocurrencies can be used for international settlements and, after issuance in Russia, can further enter the financial markets of other countries. (TASS)