Russian lawmaker urges stricter crypto regulation

Russian lawmaker Yevgeny Masharov has called on the country's Federal Assembly to regulate cryptocurrencies, claiming that one-third of global crypto exchange web traffic originates from Russia, DL News reported. He emphasized the need to swiftly enact legislation governing crypto circulation, which would deem all transactions on unlicensed platforms illegal and subject to criminal penalties. A representative from TRM Labs noted that a weakening ruble, capital controls, and international sanctions have accelerated cryptocurrency adoption in Russia.