State Duma Speaker Volodin Announces Laws on Housing and Banking Transfers Effective in May

Speaker of the State Duma Volodin: Laws on Housing and Banking Transfers Coming into Effect in May

In May 2024, several laws will come into effect in Russia, including a law aimed at protecting the rights of debtors in the housing and utilities sector, as well as laws regarding banking transfers. This announcement was made by the Speaker of the State Duma, Vyacheslav Volodin, and his remarks were reported in the lower house of parliament’s Telegram channel.

According to Volodin, the law on banking transfers will increase the limit for transfers between a client’s accounts, where no commission will be charged. The parliamentarian stated that this measure will protect the rights of depositors. Another law will enhance the effectiveness of targeted education. «Future specialists should understand that they are guaranteed a job, a decent salary, and other social benefits», - said the Speaker of the lower house of parliament.



Additionally, Volodin revealed that Russia will expand the list of individuals who will be prohibited from using debt collectors to collect debts in the housing and utilities sector — landlords of social housing will now be included in this new law. Earlier reports indicated that members of the State Duma had introduced amendments to a new version of the cryptocurrency mining regulation bill. Among the changes is a proposal to ban the use of cryptocurrencies in Russia starting from September 1st.