Russia Moves to Legalize Crypto Investments with Limits for Regular Investors

Russia has postponed the implementation of a new regulatory law on crypto transactions to July 1st (local time), incorporating a provision banning crypto advertising. According to blockchain media Cryptopolitan, Russia aims to legalise crypto investments while restricting promotional activities involving specific cryptocurrencies. Alexey Yakovlev, Director of the Financial Policy Department at the Ministry of Finance, noted the legislation is undergoing additional review but is nearly complete, with a second review expected after approval by the State Duma's Financial Markets Committee. The law will govern all aspects of crypto investment, trading, and exchange within Russia, requiring passage through the State Duma's third final vote, Federal Assembly approval, and presidential signature. Russia's Central Bank plans to finalize subordinate regulations this summer, with the country's first regulated crypto trading expected to begin in the fourth quarter. While businesses operating in the crypto market are permitted to disclose their activities, Anatoly Akhakov, Chairman of the State Duma's Financial Markets Committee, clarified that promotional tactics revealing specific business operations remain restricted.