Key Takeaways:
-
The State Duma introduced 3 crypto bills capping non-qualified investors at $3,730 in yearly buys.
-
Tax reporting on cryptocurrency transactions will be mandatory, and illegal crypto use will be punishable with fines and up to a 2-year ban.
-
Cifra Markets’ Alexey Korolenko predicts an upcoming purge, with many Russian exchanges closing soon.
Russia Sets up Regulatory Infrastructure to Support Cryptocurrency Operations
Russia is advancing to bring clarity to local cryptocurrency activities happening in a gray legal zone.
The Russian government has recently introduced a series of bills to regulate and regularize cryptocurrency and digital assets activities in the State Duma. The three bills focus on defining…
