Bank of Russia Proposes New Regulation for Cryptocurrency Investments in Russia

The Bank of Russia has proposed a new regulation for cryptocurrency investments in Russia. The proposal includes two different regimes for investors, one for non-qualified and one for qualified investors.

For non-qualified investors, which are private investors without qualified status, a limited regime is proposed. They can purchase only selected digital currencies, with a limit of 300,000 rubles per year from one intermediary. The selection includes Bitcoin, Ethereum, and Tether USDT. To start investing in cryptocurrency under this regime, non-qualified investors need to select an intermediary, check which digital currencies are available for purchase, pass a test before the transaction, confirm risk awareness, and monitor the 300,000 ruble per year limit with each intermediary.

The selection of these assets is based on liquidity requirements. The choice takes into account capitalization, average daily turnover, and pricing history on foreign platforms for at least five years. For a non-qualified investor, it is more important to assess not just the most promising coin, but the clarity of the asset, availability through an intermediary, and personal risk readiness.

For qualified investors, who can purchase all cryptocurrencies admitted to trading on exchange and over-the-counter markets without the 300,000 ruble limit, a broader regime is proposed. Both non-qualified and qualified investors will have to pass a test before transactions and confirm that they are aware of the risks.