The Central Bank of Russia (CBR) and the Ministry of Finance are drafting the "Digital Currency and Digital Rights Law," which is scheduled to take effect on July 1. The draft will facilitate government agencies' access to crypto wallets and transaction data, and strengthen industry regulation. The draft stipulates that only licensed exchanges can organize crypto trading, and exchanges must be registered officially and meet capital requirements. Non-qualified investors will need to pass a test, and the maximum single investment limit may be 300,000 rubles (about $3,300). Exchanges and traders must disclose fund flows to the Central Bank, the Russian Financial Monitoring Agency, and others. Using offshore platforms that are not legalized in Russia illegally or from 2027 onwards may result in fines. (bitsmedia)