Russia’s State Duma advances bill regulating crypto market, phasing out P2P transactions
Crypto Briefing
Russia’s State Duma has passed a first reading of a bill to regulate digital currencies and phase out P2P transactions by 2027.Summary
The Russian State Duma has approved the first reading of a comprehensive bill titled "On Digital Currency and Digital Rights," which seeks to overhaul the nation's digital asset framework. The legislation mandates that crypto transactions be conducted through licensed intermediaries, effectively phasing out P2P transactions by July 2027. Key provisions include strict eligibility requirements for cryptocurrencies listed on exchanges, limitations on personal wallet transfers, and the authorization of crypto for foreign trade while maintaining a domestic payment ban. The bill must undergo two further readings and approval by the Federation Council before it can be signed into law by the President.
(Source：Crypto Briefing)