Amid global financial changes, Russia is taking steps to regulate the crypto sector under President Vladimir Putin's directives. An experimental legal regime is proposed by the central bank.
Russia’s Crypto Strategy Takes Shape
Russia has unveiled plans to regulate crypto investments by establishing a framework for limited trading over a three-year period, allowing 'qualified' investors to participate in crypto transactions.
Who Can Trade Crypto Under Russia’s New Plan?
To qualify as an investor, stringent financial criteria must be met: at least $1.14 million in cash or an annual income exceeding $570,000.
Sanctions and Regulatory Restrictions
For non-qualified investors, access remains restricted. The Russian central bank warns of crypto volatility and suggests penalties for unauthorized transactions. Legal changes accommodate crypto mining and payments.
As Russia's approach to crypto evolves, global developments continue, with markets showing varied trends.
