Russia Drops Wallet Address Rule in Revised Crypto Bill

Russia's State Duma Financial Markets Committee adopted a revised cryptocurrency regulation bill ahead of its second parliamentary reading. Committee Chairman Anatoly Aksakov announced the change on Telegram after lawmakers discussed several amendments to the earlier version.

The new proposal removes one of the most controversial provisions from the original bill: the requirement to disclose wallet addresses. Instead, users must report their wallet balances and transaction volumes. Aksakov said legislators dropped the address mandate to avoid exposing sensitive information. The bill passed its first reading in April before the committee adopted the revisions.

Under the amended rules, retail investors can put up to 300,000 rubles a year into regulator-approved cryptocurrencies through a single intermediary. Aksakov outlined government plans to let licensed brokers and asset managers access foreign crypto exchanges under specific conditions, with restrictions tied to jurisdictions considered friendly to Russia.