The Central Bank has sent proposals to the Russian Government on regulating investments in cryptocurrencies (digital currencies). This is stated in the message of the regulator.
The Bank of Russia proposes to allow a limited number of Russian investors to buy and sell cryptocurrencies. It is planned to establish a special experimental legal regime (EPR) for them for a period of 3 years.
Only "highly qualified" investors will be able to make transactions with cryptocurrencies within the experimental legal regime. This is a new status that individuals can receive if their investments in securities and deposits exceed 100 million rubles. or if their income over the past year amounted to more than 50 million rubles.
At the same time, companies that are qualified investors under current legislation can become participants in the experiment. For financial institutions that want to invest in cryptocurrencies, the Central Bank will establish regulatory requirements, taking into account the level and nature of the risks of such an asset.
The regulator emphasizes that it still does not consider cryptocurrency as a means of payment, therefore, it proposes at the same time to ban settlements between residents on transactions with cryptocurrency outside the experimental legal regime, as well as to establish responsibility for violating the ban.
Outside of the experimental regime, it is planned to allow all qualified investors to invest in settlement derivatives, securities and digital financial assets that do not provide for the supply of cryptocurrency to investors, but whose profitability is linked to its value.
