Vladimir Chischukhin: Russian central bank plans to set a 48 hour fund freeze cooling period for cryptocurrency trading

According to Bits.media, Vladimir Chistykhin, the first deputy governor of the Russian Central Bank, stated that the proposed crypto regulation bill will set a 48 hour cooling off period for legal crypto trading, with funds being forcibly frozen for 48 hours after transfer, limited to inter account transfers, and not involving crypto brokerage business, aiming to protect non professional investors from fraud. The relevant provisions have been included in the Crypto Market Regulation Act, which was originally scheduled to take effect on July 1st, but the second and third readings have been postponed and are expected to take effect on September 1st. Vladimir Chistykhin stated that the Russian central bank is in discussions with Belarusian cryptocurrency companies regarding rules for entering the Russian market.