Cryptopolitan reported that the Russian State Duma approved the 'On Digital Currency and Digital Rights' bill, which aims to legalize cryptocurrencies, in its first reading. According to the bill, the Central Bank of Russia will be designated as the key institution overseeing the cryptocurrency market, exercising extensive powers such as issuing licenses, approving and prohibiting transactions, and determining legality. The bill also includes provisions to regulate the activities of cryptocurrency-related institutions such as exchanges, brokers, banks, and custodians.
