Russia Restricts Crypto Trading Under New Regulations
Russia is implementing new regulations that restrict crypto trading to licensed intermediaries and limit retail investor access.Summary
The Russian government has approved draft bills to regulate crypto trading, channeling it through licensed intermediaries and limiting access for retail investors. Transactions without these intermediaries will be prohibited. Retail investors will be limited to purchasing up to 300,000 rubles ($3,700) per year after passing a knowledge test, while qualified investors will have broader access. The regulations allow Russians to buy crypto abroad and report it to tax authorities, aiming to domesticate trading rather than ban it. Crypto operators will need licenses, and banks and brokers can participate with specific requirements. Critics argue these rules may push activity underground, similar to casinos, rather than increasing oversight.
(Source：Cointelegraph)