The Central Bank of Russia plans to set new crypto investment rules. In a bold move, the financial institution has submitted a proposal to the government to create a regulatory framework.
The proposal seeks to permit a selected group of investors to trade digital assets under a three-year experimental legal regime. This comes after Russian President Vladimir Putin ordered that only qualified investors can buy and sell digital currencies.
This move aims to create a structured environment for crypto investments in the region.
Who Can Invest in Russia’s Crypto Investment?
According to the proposal, not everyone can access this new investment opportunity. The Bank of Russia’s plan limits participation to particularly qualified investors. To be eligible, individuals must have large investments.
This includes investments exceeding 100 million rubles in securities and deposits in securities and deposits or earning a high yearly income.
Businesses and financial organizations that meet regulatory standards are also welcome to join. However, casual investors or everyday traders are left out. The central bank wants to control the market and ensure that only experienced investors participate, as it remains wary of crypto’s risks.
Russia Aims To Make Crypto Safer for Investors
Russia wants to create clear rules, better services, and safer investment options for experienced investors. This initiative aims to make the digital market more organized and secure.
The government hopes to manage risks in the crypto market by limiting access while allowing experienced investors to explore its opportunities.
Russia’s central bank has always been cautious of cryptocurrency, even though it has eased some rules for them.
Despite these rules, the Bank of Russia still believes cryptocurrency is risky. It warned that digital assets can lose value quickly and have no official backing. If investors lose money, they will have to handle the losses independently.
Russia Still Prohibits Crypto Payments
While Russia lets a few people invest in crypto, it still does not allow crypto payments. The central bank wants to ban crypto transactions between residents outside the Experimental Legal Regime (EPR) and punish anyone who breaks the rules.
However, only qualified investors can invest in financial products linked to crypto, like securities and tokenized assets. They will not be able to trade cryptocurrencies directly.
Last month, Russia’s Investigative Committee proposed changing the law to classify Bitcoin and other digital currencies as property.
