Russia Regulates Crypto Exchanges, Retains Payment Ban

Russian President Vladimir Putin has signed a law regulating digital currencies and digital rights in the country.

The new law allows only registered entities to operate as exchanges and puts limits on the amount of crypto retail investors can use.

Retail investors are limited to trading most liquid cryptocurrencies, capped at 300,000 rubles ($3,700) per year. Qualified investors have no restrictions.

The law still prohibits digital currencies and digital rights as a means of payment or legal tender within Russia.