Putin Signs Russian Crypto Law with Rules and Limits
Russian President Vladimir Putin has signed a landmark law regulating the country's cryptocurrency markets.
The legislation, titled 'On Digital Currencies and Digital Rights,' establishes rules for crypto market participants, including exchanges, brokers, custodians, and other service providers.
The law requires operators of crypto exchanges to meet regulatory requirements and join a financial market self-regulatory organization. Retail investors will be limited to buying approved assets through intermediaries, with an annual cap of 300,000 rubles ($3,700) per intermediary.
Qualified investors, however, will be allowed to purchase any cryptocurrency without restrictions. The law maintains a ban on using crypto assets for payments within Russia.