TechFlow News, July 17, according to Bits.media reports, the Russian State Duma Committee on Financial Markets recommended rejecting multiple loosening amendments to the government's cryptocurrency regulation bill, which is currently preparing to enter the second reading. The rejected amendments mainly include: increasing the annual limit for non-professional investors to purchase cryptocurrency through a single intermediary from 300,000 rubles to 600,000 rubles; expanding the scope of tradable cryptocurrencies to those with a market cap exceeding 1 trillion rubles and daily trading volume exceeding 100 billion rubles (the current draft requires a market cap of no less than 5 trillion rubles and trading volume of no less than 1 trillion rubles, effectively allowing only a very few currencies such as BTC and ETH to be listed); allowing Russian citizens to use non-custodial crypto wallets; canceling the mandatory review power of digital custodial institutions over every transaction; and postponing the bill's effective date to January 2027. The current version of the bill retains the power of digital custodial institutions to review each transaction and freeze transactions. The bill completed its first reading in April this year, was originally planned to be passed before July 1, and has now been postponed to September 1, with the deliberation of the supporting criminal liability bill also no earlier than September.
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