The Bank of Russia is working on a regulatory framework to allow all investors to purchase cryptocurrencies under certain conditions. What would those conditions be?
The Bank of Russia is considering allowing everyone to buy cryptocurrencies
In Russia, regulations surrounding cryptocurrencies remain so ambiguous that it is difficult to determine whether the country is for or against blockchain technology.
Over the past year, the relevant authorities have 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 citizens to purchase certain cryptocurrencies, but in limited quantities:
Non-qualified investors will be able to purchase the most liquid cryptocurrencies—for which criteria will be established by law—but only after passing tests and within a limit of 300,000 rubles per year through a single intermediary.
For reference, 300,000 rubles is equivalent to just over 3,260 euros at the current exchange rate.
Under this new bill, qualified investors will be able to invest in any cryptocurrency without a limit on the amount, provided they pass a test, with the exception of anonymous cryptocurrencies.
In terms of timing, the Bank of Russia is targeting July 1, 2026, for “the development of a legislative framework,” and then plans to introduce, by July 1, 2027, “liability for illegal activities by intermediaries in the cryptocurrency market, similar to that provided for illegal banking activities.”
This week, we also revisited the issue of Bitcoin (BTC) mining in Russia.
