Putin Signs Landmark Digital Currency Law in Russia

Russian President Vladimir Putin has signed a landmark law regulating digital currencies in the country. The legislation, which comes into effect on September 1, sets out rules for crypto exchanges, digital depositories, and market participants.

The new law defines conditions for investors to purchase cryptocurrencies, including accreditation requirements. Non-accredited investors will be able to buy liquid cryptocurrencies via intermediaries, with an annual cap of 300,000 rubles (approximately $186,000).

Banks in Russia are now empowered to block suspicious crypto-related transactions under the new regulations.