Head of Russian State Duma Financial Market Committee: Cryptocurrency Expected to Become a Daily Use Tool for Russian Residents

Odaily News The head of the Russian State Duma's Financial Market Committee, Anatoly Aksakov, stated that a bill aimed at removing cryptocurrencies from the "special financial regulation" framework has completed its preparatory work. In the future, this may promote cryptocurrencies to become a common phenomenon in the daily lives of Russian residents.

In an interview with Russian state television, Aksakov said that the State Duma will focus on discussing digital financial assets and cryptocurrency-related issues during the upcoming spring session. According to the proposed bill, cryptocurrencies will no longer be considered as specially regulated objects, and their usage scenarios will become more normalized.

He also pointed out that the bill allows non-professional investors to participate in the cryptocurrency market but sets a cap: the amount an individual can spend to purchase digital currency must not exceed 300,000 rubles; professional financial market participants are not subject to this restriction. Furthermore, cryptocurrencies can also be used for international settlements and, after being issued in Russia, can further enter the financial markets of other countries. (TASS)