Russia Advances Digital Asset Legislation: Central Bank to Oversee Market Access and Transaction Compliance

Russia's lower parliament has preliminarily approved a landmark digital assets bill, moving crypto regulation forward. The central bank will oversee licensing and transactions, defining crypto as property but banning its use for payments. Cross-border trade is permitted, with investment limits and an approved asset list. Full implementation is expected by 2026, amid debates over strict oversight potentially stifling market activity.

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