Russian Central Bank plans to set a 'cooling-off period' for crypto transactions, funds frozen for 48 hours after transfer

CoinFeed July 3 news, according to Bits.media, Russian Central Bank First Deputy Governor Vladimir Chistyukhin said that the proposed crypto regulation bill will set a 48-hour 'cooling-off period' for legal crypto transactions, meaning funds will be forcibly frozen for 48 hours after transfer, limited to inter-account transfers, not involving crypto brokerage, aimed at protecting non-professional investors from fraud. The relevant clauses have been written into the crypto market regulation bill, which was originally scheduled to take effect on July 1, but the second and third readings have been postponed and may take effect on September 1. In addition, Chistyukhin also stated that the Russian Central Bank is discussing rules for Belarusian crypto companies to enter the Russian market.