Russia's final crypto bill will retain the ban on non-custodial wallets, with the exception of foreign trade participants.

According to Bits.media, Russian Deputy Finance Minister Ivan Chebeskov stated that the final version of the government's cryptocurrency market regulation bill will retain the ban on transfers from Russian custodial wallets to non-custodial foreign wallets. More lenient conditions will only apply to participants in foreign trade activities, i.e., importers. Chebeskov said that after the law comes into effect, the effectiveness of the new regulatory system will be analyzed, and the use of non-custodial wallets may be allowed in an experimental mode in the future. The final version of the bill will be ready next week, and the deputy finance minister hopes it can be passed before the end of the State Duma's spring session. Previously, the Duma's Committee on Financial Markets opposed the Central Bank's position of prohibiting transfers to non-custodial wallets, proposing to provide judicial protection for all crypto asset holders. The bill passed its first reading on April 21, stipulating that from July 1, Russians and companies can only purchase digital assets through licensed intermediaries, access to foreign crypto platforms requires approval from a list approved by the Central Bank, and access to exchanges that impose sanctions on Russia is prohibited.