Russian Ministry of Finance: Cryptocurrency Regulation Bill Expected to Complete Revisions Before Second Reading Next Week

According to TASS, Ivan Chebeskov, Deputy Minister of Finance of Russia, stated that the Ministry of Finance is jointly refining the cryptocurrency market regulation bill with the Central Bank of Russia, and revisions are expected to be completed before its second reading in the State Duma next week. Under the regulatory framework previously proposed by the Central Bank of Russia, digital currencies and stablecoins will be classified as monetary value—allowing them to be bought and sold—but they may not be used as payment instruments within Russia. Non-qualified investors who pass a test may purchase highly liquid cryptocurrencies worth up to 300,000 rubles per year through a single intermediary.