Russia May Allow Crypto Trading for Select Local Investors
The Central Bank of the Russian Federation has put forward a proposal to allow qualified individuals to trade cryptocurrencies over a three-year experimental period. This proposal is currently under review by the Russian government.
According to a statement released Wednesday, “qualified” investors include those holding over 100 million rubles (approximately $11.5 million) in stock investments and deposits, or earning over 50 million rubles in income last year.
Eligible companies under existing law can also participate in the experiment. The central bank intends to set regulatory requirements for interested financial organizations.
“The experiment aims to enhance transparency in the cryptocurrency market, establish service standards, and broaden investment opportunities for experienced investors willing to take on increased risks,” stated the central bank.
