Russia aims to turn cryptocurrency into a daily tool, with the spring conference being key

Russia’s cryptocurrency policy has taken a significant turn. According to the latest news, Anatoly Aksakov, chairman of the Financial Market Committee of the State Duma, stated that a bill to remove cryptocurrencies from the “special financial regulation” framework has completed preparations, and the State Duma will focus on discussing related issues during the upcoming spring session. This means that cryptocurrencies are expected to shift from being under special regulation to becoming a routine tool for everyday use.

From Special Regulation to Normalized Policy Shift

According to the core content of the proposed bill, the regulatory status of cryptocurrencies will undergo a fundamental change.

Adjustment of the Regulatory Framework

Currently, Russia considers cryptocurrencies as objects of special financial regulation, which limits their application in daily economic activities. The core of the new bill is to cancel this special status, making the use cases for cryptocurrencies more normalized. This not only signifies an increase in legal recognition but also suggests that Russian residents may find it more convenient to use cryptocurrencies in their daily lives.

Tiered Investor Access System

The bill adopts a differentiated management approach for investors:

This design balances market openness and risk control. The 300,000 ruble limit (approximately 25,000 RMB) is relatively moderate for ordinary investors, allowing participation while avoiding excessive risk exposure.

Expansion of Use Cases

The new bill not only concerns investment but also involves the practical application scope of cryptocurrencies.

International Settlement Function

The bill explicitly states that cryptocurrencies can be used for international settlements. This is particularly important for Russia, as seeking payment solutions outside SWIFT has become a strategic necessity amid the current international environmental situation. The cross-border nature of cryptocurrencies precisely meets this demand, allowing bypassing traditional financial sanctions.

Entry into Transnational Markets

According to the bill, after issuance in Russia, cryptocurrencies are expected to further enter the financial markets of other countries. This provides Russian crypto projects and enterprises with the possibility of internationalization.

Key Nodes in Policy Promotion

Importance of the Spring Session

The State Duma will focus on discussing digital financial assets and cryptocurrencies during the spring session. This is not just a routine agenda but a critical window for policy advancement. Spring sessions are typically important periods in the Russian parliament, and discussions on key topics often signal accelerated policy progress.

Likelihood of Bill Passage

From Aksakov’s position as chairman of the Financial Market Committee, this bill has considerable official support. His public statements on national television indicate that this is not a grassroots initiative but a formal policy push. This greatly increases the likelihood of the bill passing during the spring session.

Future Outlook

If the bill is passed during the spring session, Russia will become one of the few countries to incorporate cryptocurrencies into a routine financial framework. This could have several impacts:

• Market Level: Russia’s crypto user base may grow significantly, bringing new demand to the global crypto market
• Geopolitical Level: Strengthening Russia’s independence within the international payment system
• Global Demonstration Effect: Potentially inspiring other countries facing sanctions or financial isolation to follow suit

Summary

Russia’s policy shift marks a subtle change in the global political and economic status of cryptocurrencies. From being objects of special regulation to becoming tools for daily use, this is not only a regulatory framework adjustment but also a reflection of countries re-evaluating the strategic value of cryptocurrencies. The spring session will be a key window to observe this transformation, and whether the bill passes will directly influence the global crypto landscape. For those paying attention to Russia’s policies and cryptocurrency development, the coming months are worth closely monitoring.