Russia's push to bring digital assets into international commerce is moving forward, though not as quickly as first planned. After passing its first reading back in April, the government's crypto bill has been revised and cleared for its next stage. Russia's State Duma committee has approved a revised cryptocurrency regulation bill for its second reading, removing a proposed requirement to declare crypto wallet addresses while adding provisions for crypto-funded investments and new transfer controls.
The headline feature for businesses is unchanged: crypto stays banned for domestic payments but is permitted for cross-border trade. Meanwhile, Bitcoin is flashing strength of its own, closing above key long-term support for a third straight week. Below, we cover both the regulatory update and what the BTC chart is signaling.
Where does Russia's crypto bill actually stand right now?
It has passed one of three required readings. The bill, formally titled "On Digital Currency and Digital Rights," passed its first reading with 327 of 340 deputies voting in favor. Since then it has been rewor...
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