The State Duma legislation creates a regulated framework for crypto market participants and now moves to President Vladimir Putin for his signature before becoming law.
Russia’s lawmakers moved the country closer to its first comprehensive crypto market framework after completing final readings on a bill that would regulate digital asset activity.
Russia’s State Duma, the lower house of parliament, approved bill No. 1194918-8, titled “On Digital Currency and Digital Rights,” in its second and third readings on Tuesday, according to official parliamentary records.
If enacted, the bill would establish rules for crypto market participants, including exchanges, brokers, asset managers and custodians, while allowing crypto assets to be used in foreign trade operations.
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