Russia plans to launch cryptocurrency regulatory regulations for parliamentary vote in July

Anatoly Aksakov, Chairman of the Financial Markets Committee of the Russian State Duma, stated that Russia plans to complete the legislative framework for cryptocurrency regulation by the end of June this year and submit it for a vote by State Duma members in July. If passed, the bill will officially come into effect on July 1, 2027. The bill proposes to stipulate that retail and institutional investors can purchase Bitcoin before mid-2027, and retail investors must pass qualification tests and may face an annual purchase limit of $4000. The central bank plans to establish a whitelist of cryptocurrencies that allow retail investors to trade, including mainstream assets such as Bitcoin and Ethereum, while qualified investors can trade tokens outside the list. Unregistered cryptocurrency exchange operators may face fines or imprisonment, and regulatory measures will refer to Russia's current illegal banking laws.