Russia’s central bank is gearing up to allow both qualified and retail investors to purchase crypto assets.
According to a statement released by the Bank of Russia, a regulatory framework for cryptocurrency is in the works.
This move will authorize the trading of digital currencies and stablecoins, although using them for payments within the country will still be prohibited.
The Bank of Russia maintains a cautious stance on cryptocurrencies, stating that investors should be aware of the risks involved in potential fund loss.
Qualified and unqualified investors will be subject to different rules when purchasing crypto assets.
Unqualified investors will be able to buy certain cryptocurrencies, following a risk awareness test and with a transaction limit of 300,000 rubles per year through one intermediary.
On the other hand, qualified investors can purchase crypto assets without volume restrictions after passing the test, excluding anonymous tokens.
Russian residents can buy cryptocurrencies abroad using foreign accounts and transfer previously purchased assets through Russian intermediaries, with notification to the tax service.
The plan is to have the legislative framework ready by July 1st, 2026, and introduce penalties for intermediaries involved in illegal activities by July 1st, 2027.
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