Russia Moves Forward on Crypto Rules for Global Deals as Bitcoin Holds Key Support Levels
Russia Pushes Crypto Bill Ahead for
Russia is taking steps to allow digital assets in international business. The updated crypto bill has cleared an important committee stage after changes were made. This keeps the focus on using crypto for foreign trade while keeping it out of local payments.
Key Changes in the Revised Bill
The bill passed its first reading in April with strong support. Now the Financial Markets Committee has approved it for the second reading. One big update removes the need to report specific crypto wallet addresses. Instead, users will share only balances and transaction sizes. This change aims to protect sensitive data.
New rules also let investors buy Russian stocks and digital assets with crypto. Licensed brokers may get access to foreign crypto platforms under strict conditions. A new control allows officials to pause large outgoing crypto transfers for up to two days. The yearly limit for regular users stays at 300,000 rubles.
Focus Stays on
Crypto remains banned inside Russia for everyday buys. But the law opens a legal path for exporters and importers to settle deals in digital coins. This matters for trade worth around 240 billion dollars that now faces banking issues. Only big coins with market caps over 5 trillion rubles and at least five years of history can be used. Bitcoin and Ethereum are likely the first to qualify.
Timeline Moves Past Original Target
Officials say the bill is mostly ready but will miss the July 2026 goal. More readings, council approval, and a signature are still needed. The exact new date is not set yet.
Bitcoin Shows Strength With 5-Week High Close
At the same time, Bitcoin closed at its best level in five weeks. It stayed above the 200-week moving average for the third week in a row. This stands out because tech stocks dropped more than 4 percent in the same period.
Technical signals look positive. The MACD turned bullish, RSI shows a valid divergence, and momentum indicators point up. A bullish engulfing pattern from three weeks ago is still holding. Similar patterns in this cycle led to strong gains.
Price Levels to Watch
Resistance sits near 67,000 dollars then 83,000 dollars. Support levels are at 58,000 dollars and then 49,000 dollars. If Bitcoin stays above 58,000 dollars on the weekly chart, a move toward 67,000 dollars becomes likely. A close below 58,000 dollars would shift focus to the 49,000 dollar area. Price is currently near 64,000 dollars.
What Comes Next
The bill still needs two more readings and final approvals before it becomes law. For Bitcoin, holding the 58,000 dollar weekly close is the key line to watch. Both developments show growing interest in crypto for real-world use even as markets stay careful.
