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Russia Proposes Bill to Open Cryptocurrency Market to Non-Qualified Investors
BlockBeats News, January 14th - Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, stated that a draft law has been prepared to remove obstacles for non-qualified investors to trade cryptocurrency. The new legislation will be discussed during the spring parliamentary session.
The channels for non-qualified Russian traders to enter the crypto market will be restricted. Under the expected framework, individuals who do not meet the Russian qualified investor criteria will be allowed to purchase cryptocurrency worth no more than 300,000 rubles (approximately $3,800), while professional market participants will not be subject to such restrictions. In addition to domestic trading, this legislation is expected to facilitate the international use of cryptocurrency in Russia, including cross-border settlements and the overseas issuance of Russian tokens.
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