Bank of Russia Drafts Crypto Framework with Tiered Investor Access
The Bank of Russia has proposed a regulatory framework distinguishing between qualified and unqualified investors for cryptocurrency purchases. Unqualified investors face purchase limits and mandatory testing, while qualified investors gain broader access—provided they demonstrate risk awareness.
Digital financial assets (DFAs) and foreign crypto transactions fall under the new rules. The central bank maintains its stance that cryptocurrencies remain high-risk instruments, emphasizing their volatility and lack of government backing. Notably, crypto is barred from domestic payments but recognized as tradable monetary assets.
The draft framework, now under government review, aims to balance market access with systemic safeguards. 'Investors must understand they may lose their funds entirely,' the Bank warned, underscoring its cautious approach amid global crypto adoption trends.
