Russia's lower house of parliament, the State Duma, is advancing legislation aimed at tackling fraud and illegal activity in the cryptocurrency sector, according to reports. Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, said the measure focuses on 'combating the illegal use of cryptocurrencies within our country.' The move reflects Russia's broader push to bring greater oversight to its digital asset market, which has grown amid international sanctions and interest in alternative payment channels. Lawmakers are expected to vote on the bill, though full details of its provisions and enforcement mechanisms have not yet been disclosed. The legislation would add to Russia's evolving regulatory framework for crypto, which has increasingly sought to balance controlling illicit use while permitting certain sanctioned or state-supervised activities involving digital currencies.
— Sponsored —
Trade smarter on BYDFI
Get a bonus on your first deposit — from $50 at $100, up to $2,000 at $20k. 200x leverage, 600+ perpetuals, deep liquidity.