CMC News

#Russia Opens Crypto Access for Retail Investors

The Bank of Russia has submitted a policy proposal that would allow non-qualified investors to purchase certain cryptocurrencies under strict conditions. The draft marks a significant shift in the country's approach to retail crypto access, though limitations remain in place.

Non-qualified investors would be limited to a yet-to-be-defined set of liquid #crypto after passing a knowledge test, with purchases capped at 300,000 rubles annually. Qualified investors would gain broad market access excluding #PrivacyCoins, and are also subject to a knowledge test.

Russian residents will be able to acquire cryptocurrency on foreign platforms, pay with foreign accounts, and transfer resulting assets through Russian intermediaries. They will be required to notify the tax service of those transactions in such cases.