Russia’s Duma Approaches Final Vote on Crypto Bill With Strict Investor Caps

Woofun AI reports that Russia’s parliament, the State Duma, is scheduled to conduct the second and third readings of draft bill No. 1194918-8, titled "On Digital Currency and Digital Rights," on Tuesday. This legislative milestone was confirmed by Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, as reported by RBC, marking a critical step toward formalizing cryptocurrency regulations within the country.

Structurally, the bill imposes stringent constraints on non-qualified investors to mitigate systemic risk. These participants face an annual limit of 300,000 rubles ($3,800) on cryptocurrency purchases through any single intermediary.

Furthermore, their ability to move assets across borders is capped, with a strict 100,000 ruble limit applied to transfers abroad, effectively restricting retail exposure to international crypto markets.

Woofun AI data shows that, in contrast, qualified investors are granted significantly higher thresholds to facilitate institutional participation. The proposed rules allow these entities to execute purchases up to 3 million rubles and conduct transfers abroad up to 1 million rubles. This tiered approach aims to create a robust legal framework for crypto activity, establishing clear rules for investors while enabling compliant cross-border trade operations.

The main provisions of the bill are set to take effect on Sept. 1, contingent upon final passage. Aksakov emphasized that the legislation would establish necessary legal conditions for cryptocurrency use in Russia. Crucially, it would permit companies supplying goods to Russia to utilize crypto assets "without excessive legislative and legal restrictions," potentially streamlining international trade settlements.