The Central Bank of Russia has submitted proposals to the Russian Government to allow cryptocurrency buying and selling by a limited set of investors under a special experimental legal regime planned to run for three years, while maintaining that cryptocurrencies should not be used as a means of payment. Under the proposed regime, cryptocurrency transactions would be restricted to a new category of “especially qualified” investors, available to individuals whose investments in securities and deposits exceed RUB 100 million and whose prior-year income exceeds RUB 50 million. The experiment would also include companies that qualify as qualified investors under existing law, and the central bank would set regulatory requirements for financial corporations investing in cryptocurrencies based on the level and nature of the risks associated with these assets. Alongside the experiment, the central bank proposes banning residents from settling cryptocurrency transactions outside the regime and introducing liability for breaches. Outside the experimental regime, the central bank intends to permit all qualified investors to invest in derivatives, securities and digital financial assets that do not provide for delivery of cryptocurrencies but have returns linked to cryptocurrency values.
Central Bank of Russia 2025-03-12
Central Bank of Russia proposes three-year experimental regime for cryptocurrency trading limited to especially qualified investors
The Central Bank of Russia proposes a three-year experimental regime for cryptocurrency transactions, limited to "especially qualified" investors meeting specific thresholds. This regime restricts transactions to these investors and qualified companies, with regulations based on risks. The central bank also plans to ban residents from settling cryptocurrency transactions outside this regime and permit qualified investors to invest in derivatives and securities linked to cryptocurrency values.