Russia’s State Duma is preparing to move ahead with the final review of the Digital Currency and Digital Rights bill, according to Techub News. The proposal is designed to create a legal framework for cryptocurrency activity in the country, allowing regulated business operations and cross-border settlements while keeping the domestic ban on crypto payments in place. The bill also sets annual limits based on investor status. Non-qualified investors would be allowed to buy up to 300,000 rubles in cryptocurrency per year through a single intermediary and transfer no more than 100,000 rubles abroad. For qualified investors, the limits would rise to 3 million rubles for purchases and 1 million rubles for overseas transfers. The main provisions of the bill are expected to take effect on Sept. 1. Watcher.Guru was cited in the original news brief.
Russia’s State Duma plans to move quickly on the final review of the Digital Currency and Digital Rights bill, according to Techub News. The bill would establish a legal framework for cryptocurrency activity, permit regulated business operations and cross-border settlements, and keep the domestic ban on crypto payments in place.
Under the proposal, non-qualified investors would face an annual limit of 300,000 rubles in cryptocurrency purchases through a single intermediary and 100,000 rubles in outbound transfers. Qualified investors would be subject to higher caps of 3 million rubles for purchases and 1 million rubles for transfers abroad. The main provisions are expected to take effect on Sept. 1.
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