Russia’s Central Bank May Allow Crypto Trading for Wealthy Investors

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The Bank of Russia has proposed legislation for a three-year experimental regime allowing crypto investment by wealthy individuals. This initiative comes at the request of the President, though the bank has reiterated concerns about potential risks.

The experiment targets individuals with assets over 100 million rubles ($1.1 million) or an annual income exceeding 500 million rubles ($574,000), as well as companies deemed qualified investors. The central bank intends to implement rules for financial institutions to manage these risks effectively.

The initiative aims to bring cryptocurrency trading into the open and develop standards for service provision.

Qualified investors will be allowed to explore other assets linked to cryptocurrency performance, such as derivatives, securities, and digital financial assets, which align with Russia’s framework for tokenized assets and digital securities.