#What Are the New Crypto Regulations Proposed by the Bank of Russia?
The Bank of Russia is actively proposing new regulations aimed at expanding access to cryptocurrency for both retail and professional investors. This proposed framework seeks to create a regulated environment while maintaining stringent safeguards, recognizing digital currencies and stablecoins as assets. However, it is important to note that the use of these assets for domestic payments within Russia remains off-limits.
In the proposed framework, retail investors, also known as individual investors, will be able to invest in cryptocurrencies but will face restrictions. Specifically, their investments will be limited to the most liquid crypto assets, with a maximum annual investment cap of 300,000 rubles through a single intermediary. Professional investors, on the other hand, can invest without limits; however, they are prohibited from buying anonymous cryptocurrencies. This tiered approach ensures that different investor types are treated according to their experience and financial capacity.
#How Does the Bank of Russia Aim to Structure Crypto Transactions?
The regulatory framework extends the current licensed infrastructure used for crypto transactions. This includes platforms like exchanges, brokers, and trustees. Additionally, new requirements will be imposed on specialized crypto depositories and exchanges to ensure compliance and enhance security. By leveraging these existing channels, the Bank of Russia is striving to create a structured and secure environment for digital currency activities.
Furthermore, the proposed framework does allow digital financial assets and other Russian digital rights to circulate on open networks. This is aimed at attracting foreign investment, which can prove beneficial for the Russian economy and its digital asset sector.
#When Will These Regulations Take Effect?
The Bank of Russia is aiming to finalize this legislative framework by July 1, 2026. It's also important to highlight that liability for any illegal activities conducted by crypto intermediaries will come into effect a year later, starting July 1, 2027. This gradual implementation is likely intended to provide sufficient time for investors, intermediaries, and regulatory bodies to adapt to the new requirements and framework.