Woofun AI reports that Russia’s State Duma has enacted legislation establishing the nation’s inaugural comprehensive regulatory framework for cryptocurrencies, with primary provisions commencing on September 1. The statute defines legal parameters for exchanges, custodians, and digital asset providers, mandating that only entities registered with specialized authorities may operate as exchanges, though existing firms retain a grace period until July 1, 2027. Banks are obligated to reject transactions involving unapproved entities if suspicion arises.

The legislation grants judicial protection to digital currency holders irrespective of prior reporting status. Retail investors may acquire highly liquid cryptocurrencies through licensed intermediaries, subject to an annual transaction limit of approximately $3,800 per intermediary. Qualified investors face no such restrictions and may purchase any cryptocurrency freely.