The Russian State Duma will conduct the final review of the cryptocurrency regulation bill on Tuesday

The State Duma of Russia will conduct the second and third readings of the cryptocurrency regulation bill on Tuesday. The bill is titled "Digital Currency and Digital Rights," and it includes rules for investors and regulations related to cross-border payments.

The bill proposes restrictions for non-qualified investors, including a limit of 300,000 rubles, approximately $3,800, for purchasing cryptocurrency through a single intermediary each year, and a limit of 100,000 rubles for transfers abroad. The purchase limit for qualified investors is set at 3 million rubles, with a limit of 1 million rubles for transfers abroad.

If the bill is approved, Russia will establish a legal framework for cryptocurrency activities, covering rules for investors and cross-border trade operations. The main provisions of the bill are expected to take effect on September 1 and will allow companies supplying goods to Russia to use crypto assets.