Russia Finally Presses the Button for Bitcoin (BTC) and Altcoins! The Date is Clear!

Putin — who has been working on cryptocurrencies for so long, but has yet to come to a conclusion has taken action again.

Accordingly, Russia is preparing to legislate its long-pending cryptocurrency regulatory framework in July.

With the passage of this bill, major cryptocurrencies like Bitcoin are expected to become more involved in the regulatory mainstream.

The State Duma’s Financial Markets Committee chairman Anatoly Akstakov said the cryptocurrency regulation bill is likely to be voted on by the end of June, according to DL News.

If the bill is approved, it is expected to come into effect on July 1, 2027.

The bill focuses on exchanges, investor limits, and stablecoins.

At this point, the bill will tighten restrictions on individual investors as well as regulate cryptocurrency exchanges.

One investor will have to pass an eligibility test for cryptocurrencies, Aksakov said; the annual purchase limit is 300,000 rubles (about $3,800) and “the price tag” on each of these transactions will be set at its highest level.

Aksokov also said the draft bill would allow the Russian Central Bank to directly decide which list of cryptocurrencies individual investors can buy. It added “The list of cryptocurrencies that do not appear on this list is likely to be limited, so only qualified investors can trade them,” the report said.

*This is not investment advice.

Thanks for reading Russia Finally Presses the Button for Bitcoin (BTC) and Altcoins! The Date is Clear!