According to breaking news, the Central Bank of Russia will allow investors to buy cryptocurrencies on a limited basis.
This marks a shift in Russia’s stance on digital assets.
Russia’s central bank plans to allow a limited number of investors to trade cryptocurrencies, Bloomberg reported.
Accordingly, only qualified individual investors, institutional investors and financial institutions will be eligible to trade with cryptocurrencies.
For financial institutions investing in crypto assets, the Central Bank of Russia will introduce regulatory requirements to take into account their risks.
“1- Special experimental legal regulation will be introduced for three years. 2- The Central Bank of Russia still does not consider crypto as a means of payment. 3- The central bank plans to allow all qualified investors to invest in derivatives, securities and digital financial assets that do not provide crypto assets but are tied to their value.”
*This is not investment advice.
