Bank of Russia Proposes Annual Limit of 300,000 Rubles for Non-Qualified Crypto Investors

The Bank of Russia has proposed an annual limit of 300,000 rubles for non-qualified investors buying cryptocurrencies through intermediaries. This is seen as a way to introduce retail investors to the market, while full-fledged investments without limits are available to qualified market participants.

Qualified investors will have access to all allowed cryptocurrencies, with no restrictions on amounts, and will be able to invest in a wider selection of digital assets. They must first obtain status confirmation before making investments.

Alexander Brazhnikov, Executive Director of RACIB, considers this model a market for the chosen few and highlights four key risks: sanctions pressure, concentration among intermediaries, fraudsters under the guise of legal business, and risk of monopolization.