Bank of Russia Approves Crypto Trading for Select Investors
Russian banks plan to conduct cryptocurrency transactions in the country under the Experimental Legal System (ELR).
According to the official statement of the central bank, only one group of investors can access it.
The main steps of Russian encryption regulations
The central bank intends Establish Three years of experimental law Crypto Trading Framework.
The initiative will allow transactions in a controlled environment that operates under strict regulations. The goal is to test market operations while ensuring supervision and compliance.
However, access will be limited to new categories of “high-quality” investors.
To be eligible, an individual must invest at least 100 million rubles in securities or deposits, or earn more than 50 million rubles in the past year.
In addition, companies classified as qualified investors under existing regulations may also participate. Financial institutions Seeking contact with cryptocurrencies Depending on the relevant risks, specific regulatory requirements will be subject to.
“The introduction of ELR is designed to increase transparency in the cryptocurrency market, establish service standards, and expand investment opportunities for experienced investors willing to take higher risks. Russian banks have repeatedly stated that private cryptocurrencies have not been issued or supported by any jurisdiction, rely on mathematical algorithms, and are very volatile. Therefore, investors must understand the risks of potential financial losses before investing in cryptocurrencies,” the statement from the Russian Bank said.
Russian businesses have previously pushed qualified investors to gain access Crypto Trading.
Meanwhile, the main goal of ELR is to establish a safe supervision Russia’s cryptocurrency trading environment. Finance Minister Anton Siluanov previously outlined two approaches under discussion.
This includes legalizing communications or allowing them within the experimental framework. Authorities chose the latter to evaluate market operations before expanding access.
Currently, Russians can buy and hold cryptocurrencies, but they are still prohibited from using them for payments. because Lack of national exchangescitizens rely on foreign platforms.
crypto investment through mutual funds
Meanwhile, Andrey Bershadsky, CEO of asset management company “Pervaya”, owns Suggested Allow exposure to cryptocurrencies through mutual funds.
He advises that professional asset managers can provide structured access to the market, thereby reducing investor risks.
“Providing market exposure through professional asset managers and collective investment tools will be a major shift in our industry. New investors are entering this segment. However, they are forced to invest through a platform that is not regulated under Russian law, beyond the control of Russian regulators.
Currently, only digital financial assets (DFA) will be Including certain types of mutual funds. The central bank has been studying necessary regulatory changes since May last year.
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