The proposed legislation establishes a regulated framework for crypto intermediaries. This will bring exchanges, brokers, and custodians under the supervision of the Bank of Russia. It also officially recognizes cryptocurrencies as property. The new bill creates a licensing regime for companies offering crypto-related services. Retail investors who are not classified as qualified investors will be allowed to purchase only up to 300,000 rubles (approximately $3,800) worth of approved cryptocurrencies. Qualified investors will be subject to higher investment limits. The law also introduces compliance requirements for ... (full story)