The Bank of Russia is working on a regulatory framework to allow all investors to purchase cryptocurrencies under certain conditions. What would these conditions be?
The Bank of Russia is considering allowing everyone to purchase cryptocurrencies
In Russia, regulations surrounding cryptocurrencies are still so ambiguous that it is difficult to determine whether the country is for or against blockchain technologies.
This year, the relevant authorities finally moved to legalize cryptocurrency trading for qualified investors under certain conditions.
This time, the Bank of Russia is considering the possibility of allowing all its citizens to purchase certain cryptocurrencies, but in limited quantities:
Non-qualified investors will be able to acquire the most liquid cryptocurrencies, for which criteria will be established by law, but only after passing tests and within the limit of 300,000 rubles per year through a single intermediary.
For reference, 300,000 rubles is equivalent to just over €3,260 at the current exchange rate.
Under this new bill, qualified investors will be able to invest in any cryptocurrency without any limits and after passing a test, with the exception of anonymous cryptocurrencies.
In terms of timing, the Bank of Russia is aiming for July 1, 2026, to “develop a legislative framework,” and then July 1, 2027, to “introduce liability for illegal activities by intermediaries in the cryptocurrency market, similar to that provided for illegal banking activities.”
This week, we also revisited the case of Bitcoin (BTC) mining as it applies to Russia.
