The Central Bank of Russia has announced that it will allow both retail and qualified investors to buy crypto assets.
It is not a statementBank of Russia claims to have prepared a framework that will regulate cryptocurrency.
It will allow the use of stablecoins, digital currency and other assets for payments within the nation but not the reverse.
“The Bank of Russia still considers cryptocurrencies a high-risk tool…When deciding to invest in crypto assets, investors should be aware that they are taking the risks of potential loss of their funds.”
Investors who are qualified or not will have different rules to follow when buying crypto assets.
After passing the risk awareness test, unqualified investors will be able to purchase most of the liquid crypto currencies. The criteria for this will later be established by law. Through one intermediary, their transactions are limited to no more than 300,000 rubles per year or $3,800.
Qualified investors can buy crypto assets with no volume restriction after they pass the test. All cryptocurrencies, except anonymous tokens, are covered by the rule.
Residents from the BRICS countries that founded the cryptocurrencies will be able to buy cryptocurrencies using their foreign account. Residents of the BRICS co-founding country will be allowed to purchase cryptocurrencies abroad using their foreign accounts.
By July 1, 2027, the plan will be to implement the liability of intermediaries who engage in illegal activity.
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Source: dailyhodl.com
