Russia plans to introduce cryptocurrency regulations in July, with the aim of taking effect in 2027.

Russia plans to introduce cryptocurrency regulations in July this year and submit them to a vote by State Duma deputies. Anatoly Aksakov, Chairman of the State Duma's Financial Market Committee, stated that a comprehensive cryptocurrency legislative framework is expected to be ready by the end of June, and if passed, the relevant regulations will officially take effect on July 1, 2027. The report states that the legislation aims to allow retail and institutional investors to purchase Bitcoin by mid-2027 and establish clear regulatory requirements for cryptocurrency exchanges, with unregistered exchange operators potentially facing fines or imprisonment. According to the plan, retail investors will need to pass a qualification test, and their annual purchase limit may be capped at $4,000. The Central Bank of Russia is expected to develop a whitelist of crypto assets available for retail investors to trade, potentially covering mainstream assets such as Bitcoin and Ethereum, while qualified investors will be able to trade tokens not on the list. (DL News)