Russian Central Bank Governor Elvira Nabiullina said bill No. 1194918-8 distinguishes between qualified and non-qualified investors and is a common regulatory approach, not one limited to cryptocurrencies. According to ChainCatcher, she said the broader restrictions are intended to protect non-qualified investors from risks they do not understand.

She said the measures also apply to the crypto ecosystem because of market volatility and the risk that foreign digital assets linked to Russia could be seized. The bill is expected to take effect on September 1 and will be implemented alongside the launch of the digital ruble.

The law sets a 300,000-ruble crypto purchase limit for non-qualified investors and a limit 10 times higher for qualified investors. Nabiullina also said Russia’s crypto ecosystem remains open, with no restrictions on repatriating digital assets or transferring them abroad.

She added that once investors receive such assets outside Russia, they will not be protected by Russian law, and any disputes will need to be resolved in foreign jurisdictions.