Finance ministry puts forward legislation to regulate crypto investments in Russia.
Under the new law, the use of cryptocurrencies as a means of payment will remain prohibited, one of the few
with the CBR, and they will be regarded mainly as an investment tool. The ministry confirmed it had received Bank of Russia’s legislative amendments, noting that those which don’t contradict its approach will be considered.The bill introduces requirements for crypto exchanges and other platforms involved in the turnover of digital currencies. These will be added to a special register of digital asset operators.
Crypto exchanges will also have to inform citizens about the risks associated with the acquisition of digital assets. Non-qualified investors will be able to buy up to 600,000 rubles’ worth of cryptocurrency a year only after passing an online. Otherwise, the annual limit will be just 50,000 rubles . No such restrictions are envisaged for qualified investors and legal entities.
Minfin has also thought about the status of crypto mining, defining it as an activity aimed at obtaining cryptocurrency. While Bank of Russia has suggested that it should be banned, officials in Moscow and energy-rich Russian regions have called for