Russia approves cryptocurrency regulation bill, non-qualified investors have an annual purchase limit of 300,000 rubles per platform

According to Bits.media, the Russian government has approved a package of cryptocurrency regulation bills, including an annual limit of 300,000 rubles (approximately $3,300) for non-qualified investors to purchase cryptocurrencies through a single broker, and they can only buy high liquidity digital assets listed by the central bank, and must pass a test.

Qualified investors still need to take the test, but there are no monetary limits. Trading through regulated intermediaries is allowed, but trading without intermediaries is prohibited. Russian citizens can purchase cryptocurrencies abroad, but must use foreign accounts for payment and report such transactions to the tax authorities. Administrative penalties mainly target non-compliant exchange institutions rather than individual investors. The relevant bills will be submitted to the State Duma for review in the coming days.

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