The Bank of Russia proposes a limited pilot for crypto investments for high-network investors

The Bank of Russia submitted proposals to the Government for a controlled experiment that provides a “limited group of Russian investors” to trade cryptocurries, based on the President of the Country Vladimir Putin.

The plan would introduce an experimental legal regime (ELR) for three years where “specially qualified” investors would allow the transactions of cryptocurrency, according to a statement From the central bank.

In order to be considered “specially qualified”, individual investors should have over 100 million rubles (1.14 million dollars) in investments or annual income exceeding 50 million rubles ($ 570,000). Institutions recognized as qualified investors could also trade cryptocurrency.

The initiative aims to establish standards for cropto services and increase market transparency during the expansion of investment opportunities for “experienced investors ready to take higher risks.”

The Bank of Russia repeated warnings about the instability and risks of the cryptocurri market, emphasizing that no competence supports them. In accordance with its attitude, the Central Bank proposed a ban on the cryptocurnence of a transaction between the residents outside ELR and the implementation of violation penalties.

In addition to the direct trade of Criptocurrencion, Russia plans to enable qualified investors to access derivatives and securities related to digital means, provided they do not include direct ownership of cryptocurrency.

This move is the latest Russian in the Cryptocernance area. Last year, the lower house of the country of the Federal Assembly, the State of Dum, laid two jobs Legalizing creptocurrency mining and bringing an experimental regime to cross-border settlements and exchange a digital currency trade.

The Central Bank of the Earth is asking to get its own The greatest banks to support digital laundry For retail and commercial use later this year. The state is largely strongly sanctioned by the United States after its invasion of Ukraine, and the digital currency of the Central Bank is seen as a way of circumvent financial constraints.

Back 2021. years, the bank of Russia said that the digital currency with the Central Bank Bank could be used as a a tool against sanctions.

Declaration of responsibility: Information gathered for this article was translated using artificial intelligence.