Russia’s central bank has proposed a revised regulatory framework that would allow both qualified and non-qualified investors to trade cryptocurrencies under clearly defined and separate conditions.
Under the proposal, non-qualified investors would be permitted to trade cryptocurrencies through licensed intermediaries with an annual cap of 300,000 rubles per intermediary.
The Bank of Russia stated that non-qualified participants must first pass a risk awareness test and would only be allowed to trade a limited selection of the most liquid crypto tokens.
Cryptocurrencies and stablecoins would be legally classified as foreign currency assets that may be bought and sold but not used as a means of payment within Russia.
Qualified investors and intermediaries would be allowed to trade a broader range of cryptocurrencies without an investment ceiling, excluding privacy coins that obscure transaction details through smart contracts.
Despite having no cap on investment size, qualified investors would still be required to complete the same risk awareness assessment as non-qualified traders.