The Central Bank of Russia has proposed a regulatory framework to the government to oversee cryptocurrency investments. This would allow only qualified investors to take part under a three-year experimental legal regime.
Who Can Invest in Russia’s Crypto Market?
The proposal limits access to specifically qualified investors. Those eligible must have substantial investments exceeding 100 million rubles in securities and deposits or a high annual income. Casual investors and everyday traders are excluded from participation.
Russia Aims To Make Crypto Safer for Investors
Russia seeks to create clear rules, improved services, and safer investment options for experienced investors. The central bank remains cautious about cryptocurrencies, describing them as risky assets that can quickly depreciate in value.
Russia Still Prohibits Crypto Payments
The central bank doesn't allow cryptocurrency for payments. Transactions will be banned outside the experimental legal regime, but investment in financial products linked to cryptos, like tokenized assets, is permitted.
The Central Bank of Russia's proposal offers a secure yet restrictive environment for crypto investments, aiming to create a structured and safe crypto ecosystem in the country.
