Russia's State Duma Committee Rejects Crypto Trading Limit Increase, Keeps Annual Cap at 300,000 Rubles

According to Bits.media, on July 17, Russia's State Duma Financial Market Committee recommended rejecting amendments to loosen cryptocurrency trading restrictions. The committee opposed raising the annual purchase limit for non-professional investors through a single intermediary from 300,000 rubles to 600,000 rubles, and rejected proposals to expand the list of tradeable cryptocurrencies beyond the government-approved options of Bitcoin and Ethereum.

Additionally rejected were provisions allowing non-custodial wallets, removing mandatory consent requirements from digital custodians for transactions, and requiring custodians to insure against risks such as hacking attacks. The final law preserves custodians' authority to inspect and freeze trades. The legislation, originally scheduled for approval before July 1, has been postponed to September 1.