Crypto for 300. How will the Bitcoin purchase limit work in Russia?
Experts explained why a restriction on cryptocurrencies is needed for “non-qualified” investors with ₽300 thousand, and how it will be monitored.
The rules for buying and other cryptocurrency transactions are expected to take effect next month. The law allows investing in cryptocurrency, including for non-qualified investors, but provides for restrictions that the Central Bank will set after discussing the conditions it proposed.
This limit is the market’s starting configuration. First, the Central Bank will be able to see how the new regulatory model works in practice, what investor behavior it creates, what risks actually arise, and only then, if necessary, will it revise the parameters.
The investment amount limit is not the only restriction for “non-qualified” investors. The Bank of Russia also proposes limiting the list of cryptocurrencies available to them to Bitcoin, Ether, and stablecoins USDT. At the same time, in the State Duma, lawmakers questioned the need to allow USDT, since the issuer of the stablecoin Tether freezes funds at the request of the U.S. authorities.
Experts explained why a restriction on cryptocurrencies is needed for “non-qualified” investors with ₽300 thousand, and how it will be monitored.
The rules for buying and other cryptocurrency transactions are expected to take effect next month. The law allows investing in cryptocurrency, including for non-qualified investors, but provides for restrictions that the Central Bank will set after discussing the conditions it proposed.
This limit is the market’s starting configuration. First, the Central Bank will be able to see how the new regulatory model works in practice, what investor behavior it creates, what risks actually arise, and only then, if necessary, will it revise the parameters.
The investment amount limit is not the only restriction for “non-qualified” investors. The Bank of Russia also proposes limiting the list of cryptocurrencies available to them to Bitcoin, Ether, and stablecoins USDT. At the same time, in the State Duma, lawmakers questioned the need to allow USDT, since the issuer of the stablecoin Tether freezes funds at the request of the U.S. authorities.