Russian State Duma official: A bill to allow cryptocurrencies to operate outside of special financial regulations is ready.

PANews reported on January 14 that, according to TASS, Anatoly Aksakov, chairman of the Financial Market Committee of the Russian State Duma, said that a bill aimed at removing cryptocurrencies from a special financial regulatory framework is ready, which would make cryptocurrencies a common payment tool in the lives of Russian citizens.

Aksakov pointed out that the bill will allow non-accredited investors to purchase cryptocurrencies, but the total amount that an individual can purchase will be capped at 300,000 rubles; professional financial market participants will be able to operate in the market without restrictions. Furthermore, cryptocurrencies will be usable for international settlements and will circulate in other countries' financial markets after their issuance in Russia. He stated that the State Duma will focus on advancing legislation related to digital financial assets and cryptocurrencies at its upcoming spring session.