Finance industry association urges Russian government to legalize crypto investments.
The main finance industry association of Russia has urged authorities to reconsider a position against crypto investments in the nation’s financial market strategy. The organization insists that the crypto investments of Russians should be brought out of the “gray zone” instead of being banned.
Operations with crypto assets remain “in the gray zone” despite the fact that investments of Russians in cryptocurrencies are significant, the self-regulatory body of the Russian finance sector noted. Foreign companies and unregistered intermediaries receive revenues from such transactions, the organization remarked.
The NFA believes that the option to provide Russian investors with access to digital financial assets through Russian professional market participants, as well as the possibility of creating exchange-traded mutual investment funds with cryptocurrencies for qualified investors, requires additional study.
The proposal comes after recent reports revealed that cryptocurrency is a popular investment choice for many Russians. According to the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (
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