Russia Proposes Bill for Domestic Cryptocurrency Trading with Restrictions

Russia is evaluating a legislative proposal to permit domestic trading of cryptocurrencies that have surpassed 5 trillion rubles in market capitalization and 1 trillion rubles in daily trading volume prior to listing. According to NS3.AI, Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) currently meet these criteria. The proposal also includes provisions for Russia's financial monitoring agency to prohibit privacy-focused cryptocurrencies. Lawmakers are targeting July 1 for the bill's adoption, with retail investment anticipated to be limited to under $4,000 annually.