Crypto for “non-pros.” What should individuals consider under the digital currencies law?
From September 1, the State Duma is preparing to adopt rules governing the circulation of cryptocurrencies in Russia. The bill introduces comprehensive regulation of cryptocurrency and mining. It sets requirements and procedures for market participants—from exchanges and exchange offices to miners and investors. The document covers various types of cryptocurrency use and, while doing so, establishes different rights and obligations for participants in foreign economic activity, as well as for qualified and non-qualified investors.
Mandatory testing, an annual limit on purchasing cryptocurrencies, and access only to the largest assets are the most sensitive provisions of the bill for a mass audience of investors. The limit for non-qualified investors will be set by the Bank of Russia. “Non-pros” will be able to perform transactions only via “white lists.”
From September 1, the State Duma is preparing to adopt rules governing the circulation of cryptocurrencies in Russia. The bill introduces comprehensive regulation of cryptocurrency and mining. It sets requirements and procedures for market participants—from exchanges and exchange offices to miners and investors. The document covers various types of cryptocurrency use and, while doing so, establishes different rights and obligations for participants in foreign economic activity, as well as for qualified and non-qualified investors.
Mandatory testing, an annual limit on purchasing cryptocurrencies, and access only to the largest assets are the most sensitive provisions of the bill for a mass audience of investors. The limit for non-qualified investors will be set by the Bank of Russia. “Non-pros” will be able to perform transactions only via “white lists.”