Nabiullina Defends Crypto Purchasing Limits as Part of Regulatory Push

Bank of Russia Governor Elvira Nabiullina defended the recent cryptocurrency bill, which establishes purchasing limits for non-qualified investors. The new law sets a 300,000-ruble ($3,800) limit for non-qualified buyers, while qualified investors can purchase ten times more. According to Nabiullina, this distinction is not unique to cryptocurrencies and is a common element in regulation.

'Non-qualified investors have fewer opportunities because the government, through legislation, tries to protect them to avoid them embracing the risks that they don’t understand,' Nabiullina declared during a press conference. The governor also highlighted the openness of the Russian crypto ecosystem, stating that there are no limitations for repatriating and transferring digital assets abroad.

Nabiullina warned investors that if they receive funds abroad, they would not have the protections of Russian Law. She cited recent examples where assets in foreign jurisdictions were subjected to closure, foreclosure, and blocking.