The State Duma of Russia has approved the final version of the cryptocurrency regulation bill, removing the requirement to mandatorily declare wallet addresses

According to Bits.media, the Financial Market Committee of the Russian State Duma has approved the final version of the government's cryptocurrency regulation bill, which will be submitted for a second reading. Committee Chairman Anatoly Aksakov revealed that the second reading version made several key adjustments: the requirement to mandatory declare cryptocurrency wallet addresses has been removed, and instead, only balances and transaction flows need to be declared to protect residents from the risk of sensitive information leakage; a new amendment allows for the legal purchase of securities in the securities market and Russian digital financial assets using cryptocurrency.

In the future, it may be allowed for Russian licensed brokers and asset managers to trade on foreign cryptocurrency exchanges, but they must meet additional requirements such as the "friendliness" of the jurisdiction. For non-professional investors, the annual limit through a single intermediary is set at 300,000 rubles, and it is limited to "the most liquid cryptocurrencies." The bill also introduces a two-day freeze on large transfers to foreign and third parties. Aksakov did not clarify whether the proposal to prohibit Russians from using non-custodial cryptocurrency wallets would be retained.