The Financial Markets Committee of the Russian State Duma recommends rejecting amendments to relax restrictions on cryptocurrency trading

According to Bits.media, the Financial Markets Committee of the Russian State Duma has recommended rejecting the amendment to relax restrictions on cryptocurrency trading. The committee opposes raising the annual limit for non professional investors to purchase cryptocurrencies through a single intermediary from 300000 rubles to 600000 rubles, and rejects proposals to expand the list of tradable cryptocurrencies. The unapproved amendments also include provisions allowing the use of non custodial wallets, removing mandatory consent requirements for transactions by digital custodians, and requiring custodians to insure against risks such as hacker attacks. The final version of the bill retains the authority of the custodian to inspect and freeze transactions. The bill was originally planned to be passed before July 1st, but has now been postponed to September 1st. The chairman of the Duma Financial Committee stated that the relevant penalty provisions will not be approved before September.