The Central Bank of Russia has announced a new three-year pilot program that will allow certain investors to trade cryptocurrencies in a strictly controlled environment.
Planned Conditions of the Experiment
Under the proposed framework, only 'particularly qualified' investors will be allowed to trade cryptocurrencies. Individuals and companies can qualify if they meet stringent asset or income requirements: at least 100 million rubles in securities and deposits or an income exceeding 50 million rubles in the past year. Qualified investors will also be able to invest in financial instruments whose returns are tied to cryptocurrencies without direct ownership of digital assets.
Warnings from the Central Bank
The central bank stresses that digital assets remain highly volatile and are not backed by any government. Participants in the trial must be aware of the potential risks of financial loss. To ensure compliance and prevent everyday use of cryptocurrencies, strict penalties will be implemented for rule violations.
Regulation and International Relations
Russia continues to explore the use of cryptocurrencies in international trade. While domestic restrictions remain, Finance Minister Anton Siluanov has confirmed the government's experimentation with digital assets for foreign trade under a special regulatory framework. Additionally, regulatory measures concerning financial institutions interested in crypto investments have been proposed. The proposal has been submitted to the government, which will consider its impact on both Russian and international crypto laws.
The government's decision on the Central Bank's new plan could significantly impact cryptocurrency laws in Russia and beyond.
