Bank of Russia Defends Crypto Regulation Bill with Purchasing Limits

The Bank of Russia has defended its new cryptocurrency regulation bill, which sets purchasing limits for non-qualified investors at $3,800. Governor Elvira Nabiullina stated that this measure is aimed at protecting these individuals from high market risks. She emphasized that the distinction between qualified and non-qualified investors is not unique to the crypto world.

Nabiullina stressed that there are no limitations for repatriating and transferring digital assets abroad, as long as investors are aware of losing Russian legal protection against foreign seizures. The new law will take effect on September 1, alongside the rollout of the digital ruble.