Russia has submitted a bill requiring residents to declare foreign cryptocurrency wallet openings, closures, and transactions to tax authorities within one month, effective from July 1, 2026. This development comes as part of broader global regulatory moves affecting the crypto market.
The crypto market showed mild recovery with a 0.4% uptick to $2.38 trillion capitalization, though extreme fear sentiment persists with trading volume at $61 billion. Bitcoin reached $66,855.47 with a 0.5% daily rise, while the market faces ongoing challenges from token unlocks, project shutdowns like Leap Wallet's May 28 closure announcement, and various regulatory pressures keeping overall sentiment cautious.
