The central bank of Russia is preparing to allow qualified and retail investors to purchase crypto assets.
In a statementthe Bank of Russia claims to have prepared a framework for regulating cryptocurrency.
The move will green light the trading of digital currencies and stablecoins, but will still prohibit the use of these assets to pay within the country.
“The Bank of Russia still considers cryptocurrencies as a high-risk tool… When deciding to invest in crypto assets, investors should be aware that they are taking the risk of potential loss of their funds.”
Qualified and non-qualified investors will follow separate rules when purchasing crypto assets.
Non-qualified investors can purchase most liquid cryptocurrencies, the criteria for which will later be set by legislation, after passing a risk awareness test. Their transactions will be limited to 300,000 rubles, or about $3,800 per year, through a single intermediary.
Meanwhile, qualified investors will be able to purchase crypto assets without volume restrictions after passing the test. The rule applies to all cryptocurrencies except anonymous tokens.
Residents of the BRICS co-founding country will be allowed to purchase cryptocurrencies abroad using their foreign accounts. They can also transfer cryptocurrencies previously purchased through Russian intermediaries abroad, provided they notify the tax service of these transactions.
It is planned to prepare the legislative framework by July 1, 2026 and introduce the responsibilities of intermediaries engaged in illegal activities by July 1, 2027.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Tithi Luadthong/Konstantin Faraktinov
