Russia's Parliament Set to Vote on Crypto Regulation Bill July 21, Limits Non-Pro Investors to 300,000 Rubles Annually

According to Bits.media, Russia's State Duma Financial Market Committee chair Anatoly Aksakov said the crypto market regulation bill will undergo second and third readings on July 21. The legislation aims to combat illegal cryptocurrency use while providing legal channels for international settlements.

Under the bill, non-professional investors must pass a special test to buy crypto, with an annual purchase limit of 300,000 rubles, and can only trade through licensed institutions and acquire the most liquid crypto assets. The bill was originally set to take effect July 1 but was postponed to September 1. If approved on July 21, the bill still requires Federal Council approval and presidential signature.