U.S. Clarity Act Advances as Russia Delays AML Crypto Law to September

Russia pushed its sweeping AML crypto bill to September 1, while the Clarity Act on Capitol Hill picked up fresh momentum. The regulatory split leaves two very different market signals for traders watching jurisdiction exposure.

The bill gives Rosfinmonitoring broad authority over digital assets. Originally set for July 1, the new date came via Bits.media, cited by Wu Blockchain. Dealings above 60,000 RUB ($760) require payer and payee names, wallet addresses, dates of birth, and tax IDs. Cross-border transfers past 1 million RUB ($12,700) trigger enhanced reporting. Simpler transfers still need basic name and wallet info.

The Russian central bank will cap digital asset holdings at 1 percent of banking group capital. It also gains powers to restrict or ban crypto transactions outright. The delay suggests internal disputes over implementation details, not a retreat from tighter control.

Capitol Hill is moving the other direction. The Clarity Act is gaining a second lease on life, with a new draft expected next week. Senator Cynthia Lummis called it crypto's best chance before 2030, warning that failure would leave developers exposed and bad actors unchecked. Galaxy CEO Mike Novogratz said in May the act was "literally now or never."