Russia Set to Vote on Major Crypto Bill for Cross Border Trade

The Russian State Duma is preparing to vote on a significant piece of crypto legislation this July. The bill aims to create a legal framework for digital currencies and international settlements. While the country wants to use crypto for trade abroad, it intends to keep the current ban on using digital assets for daily purchases at home.

Under the new rules, only licensed exchanges will be allowed to handle crypto transactions. The government is also looking at setting caps on how much retail investors can buy. This move is seen as a way to control the market and protect everyday people from high risks while still allowing the state to benefit from global crypto trade.

If the bill passes on July 21, it will mark a major shift in how Russia handles digital assets. Market watchers are keeping a close eye on how these licensed exchanges will operate and what the specific limits for retail traders will look like. It is a clear sign that the country is trying to balance tight local control with the need for flexible international payment options.