Unqualified investors can buy up to $8K of crypto, says Bank of Russia

Unqualified investors can buy up to $8K of crypto, says Bank of Russia

The central bank of Russia proposed to set limits on annual cryptocurrency investments by non-professional investors.

The Bank of Russia suggested that unqualified investors in Russia should not be allowed to invest more than 600,000 Russian rubles ($7,800) in digital assets per year.

The authority laid out the new proposal in an explanatory note referring to Russia’s newly passed crypto law, “On Digital Financial Assets,” or DFA. 

The official statement stipulates that the new regulatory restriction will involve not only digital financial assets but also “other digital rights”:

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“Individuals representing unqualified investors will have a limit on the amount of digital financial assets for annual purchase at a total of 600 thousand rubles. The limit for the acquisition of digital rights for unqualified investors who hold both digital financial assets and other digital rights is set at 600 thousand rubles for digital financial assets and 600 thousand rubles for other digital rights.”

The new restriction will be

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