The Russian State Duma Committee on Financial Market approved the final version of the national cryptocurrency regulatory bill, removing the requirement for mandatory declaration of crypto wallet addresses

TechFlow news, July 08, according to Bits.media reports, the Russian State Duma Committee on the Financial Market has agreed on the revised version of the national regulatory bill on cryptocurrency circulation, which is expected to enter the second, also key, deliberation stage. The revision removes the requirement for mandatory declaration of crypto wallet addresses, requiring instead only the declaration of wallet balances and fund flows. The bill also proposes to legally allow the use of cryptocurrency to purchase securities market assets and Russian digital financial assets.

In addition, for most ordinary Russian investors, the bill proposes to set an annual transaction limit of 300,000 rubles, applicable only to crypto assets with higher liquidity. The bill also proposes to implement a two-day freeze measure on large transfers made to overseas destinations and third parties. Regarding whether to prohibit Russian residents from using non-custodial crypto wallets, the report indicates that the final outcome of relevant content remains unclear.