Russia is getting ready to implement a comprehensive regulatory framework for cryptocurrencies beginning in July, with retail involvement anticipated starting in July 2027. By the end of June, lawmakers hope to have the voting rules finalised.
Non-qualified investors will have restricted access to cryptocurrency markets under the system. They can invest up to 300,000 rubles annually and only buy the most liquid cryptocurrencies. Except for coins that prioritise privacy, professional dealers will have more access.
A list of authorised cryptocurrencies, perhaps including ether and bitcoin, is anticipated to be released by authorities. For use in international trade, stablecoins might be categorised differently.
While upholding the prohibition on utilising cryptocurrency for domestic payments, the framework also establishes guidelines for mining, issuance, and distribution. Traders will be allowed to buy crypto abroad but must report transfers to tax authorities.
Officials said penalties, including criminal liability, may be introduced for illegal crypto activity. Existing licensed platforms can continue operating, while others must obtain new licenses.
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