Russian parliament passes law regulating crypto market

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 State Duma has approved a bill establishing rules for the cryptocurrency market, setting conditions for crypto asset operations inside the country and for cross-border trade.

The parliament approved bill No. 1194918-8, titled “On Digital Currency and Digital Rights,” in its second and third readings on Tuesday, as expected after lawmakers scheduled the final votes, according to official parliamentary records.

The legislation creates a regulated framework for crypto market participants, including crypto exchanges, brokers, asset managers and custodians, and sets requirements for companies operating in the sector.

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