Russia's Ministry of Finance plans to finalize amendments to the cryptocurrency regulatory bill before its second reading next week.

CoinFeed reported on May 21 that, according to TASS, the Russian Ministry of Finance and the Central Bank are advancing legislation to regulate the cryptocurrency market, with plans to finalize revisions before the second reading of the relevant bill next week. According to a regulatory concept previously proposed by the Central Bank of Russia, digital currencies and stablecoins will be recognized as having monetary value and can be legally bought and sold within the country, but cannot be used for domestic payments. The draft concept also allows non-professional investors, after passing a test, to purchase highly liquid crypto assets through a single intermediary on an annual limit, with a single intermediary's annual purchase cap of 300,000 rubles.