Bank of Russia published several regulation proposals clarifying how it will be regulating the digital assets in the country. Russia has already passed a law about the issuance of digital securities, which includes cryptocurrencies.
Most notable, the Russian central bank wants to limit the amount of digital assets non-qualified investors can buy in a year.
According to the proposal, published by the Bank of Russia on Wednesday, non-qualified investors would be able to buy no more than 600,000 rubles worth of digital assets in one year, or about $7,740. Qualified investors won’t have to abide to this limit. The Bank of Russia expects to get public feedback on the proposal until Oct. 27.
To be considered a qualified investor, one must satisfy one of the following five criteria:
This only applies to the digital assets issued by companies registered with the country’s central bank, not cryptocurrencies.
“This document only touches the digital assets