Woofun AI reports that the Russian State Duma is scheduled to conduct the second and third readings of its cryptocurrency market regulation bill on July 21. The legislation, led by Financial Markets Committee head Anatoly Aksakov, seeks to prohibit illegal crypto usage while establishing a legal basis for international settlements.

Under the proposed rules, non-professional investors must pass specific assessments and are capped at purchasing 300,000 rubles worth of assets annually. Transactions are restricted to licensed entities and limited to highly liquid cryptocurrencies. The bill's implementation has been delayed from July 1 to September 1.