Russia Drafts Bill to Expand Crypto Trading for Retail Investors

• Russia’s bill expands crypto trading and access, but does not allow domestic payment use.
• Russia’s proposed crypto legislation is to counter the effects of Western sanctions.
• The new bill is a complete turnaround in Russia’s stance on cryptocurrency.

Russia is on the verge of adopting cryptocurrency into its mainstream financial sector. 

According to reports, Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, stated that a bill to exempt cryptocurrency from special financial regulation has already been drafted. Aksakov noted that the proposed legislation will standardize the use of digital currency among Russian citizens.

Crypto Accessibility to Non-Qualified Investors

In the meantime, Aksakov clarified that the Russian government will henceforth pay significant attention to the development of digital financial assets. According…

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