Russia to Limit Retail Crypto Purchases to $4,000 Amid Regulations

New legislation in Russia aims to regulate cryptocurrency trading by capping retail purchases at $4,000 while banning anonymous transactions.

In a significant move towards regulating the cryptocurrency market, Russian lawmakers have unveiled plans to impose a cap on retail cryptocurrency purchases, restricting them to a maximum of $4,000. This initiative is part of broader regulations expected to be finalized by midyear, allowing both qualified and retail investors to engage in trading.

The proposed legislation also seeks to eliminate the use of anonymous cryptocurrencies within the country and will prohibit domestic payments in digital currencies. This aligns with the government’s aim to bring cryptocurrencies under legal scrutiny and establish a framework for responsible trading practices.