Russia’s central bank signals shift toward retail crypto access

The Bank of Russia has submitted a policy proposal that signals a shift toward allowing non-qualified investors access to cryptocurrencies, albeit under strict conditions. The plan would permit these investors to buy a defined set of liquid crypto assets after passing a knowledge test, with an annual cap of 300,000 rubles ($3,834). Qualified investors would receive broader access, excluding privacy coins, also contingent on a knowledge test. Furthermore, Russian residents could acquire crypto on foreign platforms and transfer assets through Russian intermediaries, provided they notify the tax service. Despite this move, the central bank maintains that it "continues to consider cryptocurrencies a high-risk instrument" and reiterated that crypto assets cannot be used for domestic payments, upholding a 2020 law. Transactions are expected to occur via licensed exchanges and brokers.

(Source：Cointelegraph)